Frontier Group (NASDAQ:ULCC) Shares Up 4.8% – Here’s Why

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) rose 4.8% during mid-day trading on Thursday . The company traded as high as $6.42 and last traded at $6.38. Approximately 1,249,131 shares were traded during trading, a decline of 42% from the average daily volume of 2,167,064 shares. The stock had previously closed at $6.09.

Analyst Ratings Changes

ULCC has been the subject of a number of recent research reports. Susquehanna lifted their target price on Frontier Group from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Morgan Stanley cut their price target on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. UBS Group started coverage on Frontier Group in a research report on Tuesday, November 26th. They issued a “neutral” rating and a $6.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded Frontier Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $6.00 to $8.00 in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Frontier Group currently has a consensus rating of “Hold” and an average price target of $6.46.

Frontier Group Price Performance

The firm has a fifty day moving average of $6.21 and a two-hundred day moving average of $4.98. The stock has a market capitalization of $1.45 billion, a P/E ratio of -160.71 and a beta of 2.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The firm had revenue of $935.00 million for the quarter, compared to analysts’ expectations of $943.30 million. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.14) earnings per share. On average, analysts predict that Frontier Group Holdings, Inc. will post 0.05 EPS for the current year.

Insider Activity

In other news, SVP Steve Schuller sold 10,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $6.00, for a total transaction of $60,000.00. Following the transaction, the senior vice president now owns 34,035 shares in the company, valued at $204,210. This represents a 22.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Josh T. Connor sold 30,000 shares of Frontier Group stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total transaction of $172,200.00. Following the completion of the sale, the director now owns 326,550 shares of the company’s stock, valued at $1,874,397. This trade represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 81.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Blue Trust Inc. acquired a new position in Frontier Group in the 2nd quarter worth approximately $45,000. nVerses Capital LLC boosted its holdings in shares of Frontier Group by 152.5% in the 2nd quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock valued at $50,000 after acquiring an additional 6,100 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Frontier Group in the 3rd quarter valued at $54,000. Ballentine Partners LLC acquired a new stake in shares of Frontier Group in the third quarter worth $55,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Frontier Group during the second quarter worth $58,000.

About Frontier Group

Frontier Group Holdings, Inc, provides low-fare passenger airline services to leisure travelers in the United States and Latin America. The company sells its products through direct distribution channels, including its website, mobile app, and contact centers. As of December 31, 2023, it had a fleet of 136 Airbus single-aisle aircrafts.