Frontier Group (NASDAQ:ULCC) Trading Down 7.7% – What’s Next?

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) dropped 7.7% during mid-day trading on Monday . The stock traded as low as $4.27 and last traded at $4.43. Approximately 453,619 shares traded hands during trading, a decline of 80% from the average daily volume of 2,262,212 shares. The stock had previously closed at $4.80.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Susquehanna boosted their target price on shares of Frontier Group from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. UBS Group cut their price objective on Frontier Group from $10.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. Citigroup reaffirmed a “neutral” rating and set a $7.25 target price on shares of Frontier Group in a research report on Thursday, March 20th. Morgan Stanley lifted 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. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Frontier Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $12.00 to $8.00 in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.58.

Frontier Group Stock Performance

The stock has a market capitalization of $981.71 million, a P/E ratio of 12.00 and a beta of 2.37. The stock has a 50 day simple moving average of $7.26 and a two-hundred day simple moving average of $6.66. The company has a quick ratio of 0.48, a current ratio of 0.53 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.20. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. On average, equities analysts forecast that Frontier Group Holdings, Inc. will post 0.91 EPS for the current fiscal year.

Insider Activity

In other Frontier Group news, SVP Steve Schuller sold 5,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total transaction of $35,350.00. Following the transaction, the senior vice president now owns 47,590 shares in the company, valued at $336,461.30. This trade represents a 9.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Howard Diamond sold 87,830 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $8.77, for a total value of $770,269.10. Following the completion of the transaction, the executive vice president now directly owns 175,886 shares of the company’s stock, valued at approximately $1,542,520.22. This trade represents a 33.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 700,982 shares of company stock valued at $5,811,797. 81.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Frontier Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its stake 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 purchasing an additional 441,001 shares during the last quarter. Barclays PLC lifted its stake in shares of Frontier Group by 378.6% in the 3rd quarter. Barclays PLC now owns 72,866 shares of the company’s stock valued at $389,000 after purchasing an additional 57,642 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Frontier Group by 1,230.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock valued at $57,000 after purchasing an additional 7,380 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Frontier Group by 81.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock worth $3,205,000 after purchasing an additional 269,221 shares during the period. Finally, Verition Fund Management LLC increased its holdings in Frontier Group by 235.7% in the third quarter. Verition Fund Management LLC now owns 646,243 shares of the company’s stock worth $3,457,000 after purchasing an additional 453,736 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.