Frontier Group (NASDAQ:ULCC) Hits New 12-Month High – Here’s What Happened

Frontier Group Holdings, Inc. (NASDAQ:ULCC) shares reached a new 52-week high on Tuesday . The stock traded as high as $8.41 and last traded at $7.99, with a volume of 4864212 shares changing hands. The stock had previously closed at $7.11.

Wall Street Analyst Weigh In

Several brokerages have commented on ULCC. TD Cowen lifted their price objective on shares of Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Monday, September 16th. UBS Group started coverage on Frontier Group in a research note on Tuesday, November 26th. They issued a “neutral” rating and a $6.00 price objective on the stock. Morgan Stanley decreased their target price on Frontier Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Bank of America dropped their price target on Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Finally, Barclays boosted their price objective on Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Frontier Group currently has an average rating of “Hold” and a consensus target price of $6.46.

Frontier Group Stock Up 12.4 %

The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.57. The firm has a market cap of $1.80 billion, a P/E ratio of -199.70 and a beta of 2.32. The stock’s fifty day moving average is $6.36 and its two-hundred day moving average is $5.14.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The company had revenue of $935.00 million during the quarter, compared to the consensus estimate of $943.30 million. During the same quarter in the previous year, the business earned ($0.14) EPS. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, research analysts anticipate that Frontier Group Holdings, Inc. will post 0.05 earnings per share for the current year.

Insider Transactions at Frontier Group

In related news, CEO Barry Biffle sold 160,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $6.88, for a total value of $1,100,800.00. Following the completion of the transaction, the chief executive officer now directly owns 784,817 shares in the company, valued at approximately $5,399,540.96. The trade was a 16.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Josh T. Connor sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total value of $172,200.00. Following the sale, the director now owns 326,550 shares in the company, valued at $1,874,397. The trade was a 8.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,000 shares of company stock valued at $1,308,350. 81.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ULCC. U S Global Investors Inc. boosted its stake in shares of Frontier Group by 71.4% in the 3rd quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock valued at $40,473,000 after purchasing an additional 3,150,768 shares in the last quarter. AlTi Global Inc. bought a new position in shares of Frontier Group during the second quarter valued at about $21,222,000. Geode Capital Management LLC increased its holdings in shares of Frontier Group by 38.4% in the third quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock worth $8,512,000 after buying an additional 441,001 shares during the period. Verition Fund Management LLC lifted its stake in shares of Frontier Group by 235.7% in the 3rd quarter. Verition Fund Management LLC now owns 646,243 shares of the company’s stock valued at $3,457,000 after acquiring an additional 453,736 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Frontier Group by 81.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock valued at $3,205,000 after acquiring an additional 269,221 shares during the period.

Frontier Group Company Profile

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.