Frontier Group (NASDAQ:ULCC) Stock Price Down 10.2% – Here’s What Happened

Frontier Group Holdings, Inc. (NASDAQ:ULCC) shares were down 10.2% during trading on Monday . The company traded as low as $5.96 and last traded at $5.97. Approximately 1,532,711 shares changed hands during trading, a decline of 48% from the average daily volume of 2,954,373 shares. The stock had previously closed at $6.64.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ULCC shares. Morgan Stanley raised their price target on Frontier Group from $7.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Monday, February 24th. UBS Group increased their price target on shares of Frontier Group from $6.00 to $8.50 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Barclays increased their target price on shares of Frontier Group from $10.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Susquehanna increased their price objective on Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Frontier Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $12.00 to $8.00 in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.74.

Frontier Group Stock Performance

The firm’s fifty day moving average price is $8.04 and its 200-day moving average price is $6.49. The company has a market cap of $1.38 billion, a P/E ratio of 16.89 and a beta of 2.37. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45.

Frontier Group (NASDAQ:ULCC) last issued its earnings results on Friday, February 7th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.20. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. As a group, research analysts forecast that Frontier Group Holdings, Inc. will post 0.91 EPS for the current fiscal year.

Insider Activity

In related news, SVP Steve Schuller sold 5,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total value of $35,350.00. Following the sale, the senior vice president now owns 47,590 shares of the company’s stock, valued at $336,461.30. The trade was a 9.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Barry Biffle sold 160,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $6.88, for a total value of $1,100,800.00. Following the transaction, the chief executive officer now owns 784,817 shares of the company’s stock, valued at $5,399,540.96. This represents a 16.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 860,982 shares of company stock worth $6,912,597. Corporate insiders own 81.50% of the company’s stock.

Institutional Investors Weigh In On Frontier Group

Large investors have recently made changes to their positions in the company. R Squared Ltd bought a new position in Frontier Group during the 4th quarter valued at about $32,000. KLP Kapitalforvaltning AS bought a new position in shares of Frontier Group in the fourth quarter valued at approximately $50,000. Victory Capital Management Inc. acquired a new position in shares of Frontier Group in the 3rd quarter worth approximately $54,000. Nisa Investment Advisors LLC grew its position in Frontier Group by 1,230.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock worth $57,000 after acquiring an additional 7,380 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Frontier Group by 251.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock valued at $64,000 after purchasing an additional 8,507 shares in the last quarter.

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.