Frontier Group (NASDAQ:ULCC) Shares Down 5.1% – Here’s Why

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) were down 5.1% on Tuesday . The stock traded as low as $7.87 and last traded at $7.94. Approximately 240,028 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 2,207,656 shares. The stock had previously closed at $8.37.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Barclays increased their price target on shares of Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Evercore ISI raised their target price on Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. Morgan Stanley dropped their price objective on Frontier Group from $8.00 to $7.00 and set an “equal weight” rating for the company 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. Finally, Susquehanna boosted their price objective on shares of Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.96.

Frontier Group Price Performance

The stock has a market capitalization of $1.70 billion, a PE ratio of -188.78 and a beta of 2.32. The firm’s fifty day moving average price is $6.97 and its two-hundred day moving average price is $5.53. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings results 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 firm had revenue of $935.00 million during the quarter, compared to analysts’ expectations of $943.30 million. During the same quarter in the prior year, the business posted ($0.14) EPS. Frontier Group’s revenue was up 5.9% on a year-over-year basis. On average, equities analysts predict that Frontier Group Holdings, Inc. will post 0.1 earnings per share for the current year.

Insider Buying and Selling

In other Frontier Group news, Director Josh T. Connor sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total transaction of $172,200.00. Following the sale, the director now owns 326,550 shares in the company, valued at approximately $1,874,397. This trade represents a 8.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Steve Schuller sold 5,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 47,590 shares of the company’s stock, valued at approximately $336,461.30. The trade was a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 788,000 shares of company stock valued at $6,214,070. 81.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Frontier Group

Several large investors have recently made changes to their positions in ULCC. U S Global Investors Inc. lifted its holdings in 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 worth $40,473,000 after purchasing an additional 3,150,768 shares in the last quarter. Verition Fund Management LLC grew its position in shares of Frontier Group by 235.7% during the third quarter. Verition Fund Management LLC now owns 646,243 shares of the company’s stock valued at $3,457,000 after purchasing an additional 453,736 shares in the last quarter. 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 purchasing an additional 441,001 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Frontier Group by 81.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock worth $3,205,000 after buying an additional 269,221 shares in the last quarter. Finally, Jade Capital Advisors LLC boosted its stake in Frontier Group by 624.3% during the third quarter. Jade Capital Advisors LLC now owns 249,436 shares of the company’s stock valued at $1,334,000 after buying an additional 215,000 shares during 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.