Frontier Group (NASDAQ:ULCC) Trading Up 5.2% – Here’s What Happened

Frontier Group Holdings, Inc. (NASDAQ:ULCC) shares rose 5.2% during trading on Monday . The company traded as high as $6.07 and last traded at $6.07. Approximately 476,307 shares traded hands during trading, a decline of 77% from the average daily volume of 2,059,484 shares. The stock had previously closed at $5.77.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their price target on Frontier Group from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Citigroup increased their price objective on Frontier Group from $3.50 to $4.70 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Barclays cut their price target on Frontier Group from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Bank of America cut their price target on Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Finally, JPMorgan Chase & Co. downgraded Frontier Group from a “neutral” rating to an “underweight” rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.77.

Frontier Group Stock Up 3.7 %

The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 0.43. The stock has a 50-day simple moving average of $4.23 and a 200 day simple moving average of $5.00.

Frontier Group (NASDAQ:ULCC) last posted its earnings results on Thursday, August 8th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $973.00 million during the quarter, compared to the consensus estimate of $1.03 billion. Frontier Group had a negative return on equity of 4.09% and a negative net margin of 1.77%. Frontier Group’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $0.31 EPS. On average, equities research analysts forecast that Frontier Group Holdings, Inc. will post 0.08 EPS for the current year.

Insider Buying and Selling at Frontier Group

In other Frontier Group news, SVP Steve Schuller sold 10,000 shares of Frontier Group stock in a transaction on Friday, October 4th. The stock was sold at an average price of $6.00, for a total value of $60,000.00. Following the completion of the transaction, the senior vice president now owns 34,035 shares in the company, valued at approximately $204,210. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 81.50% of the company’s stock.

Institutional Investors Weigh In On Frontier Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning grew its stake in shares of Frontier Group by 81.0% during the third quarter. Creative Planning now owns 234,026 shares of the company’s stock worth $1,252,000 after purchasing an additional 104,707 shares during the period. Algert Global LLC grew its stake in shares of Frontier Group by 119.0% during the second quarter. Algert Global LLC now owns 250,623 shares of the company’s stock worth $1,236,000 after purchasing an additional 136,159 shares during the period. SkyView Investment Advisors LLC grew its stake in shares of Frontier Group by 18.5% during the second quarter. SkyView Investment Advisors LLC now owns 325,444 shares of the company’s stock worth $1,604,000 after purchasing an additional 50,779 shares during the period. The Manufacturers Life Insurance Company grew its stake in Frontier Group by 27.3% in the second quarter. The Manufacturers Life Insurance Company now owns 19,970 shares of the company’s stock valued at $98,000 after acquiring an additional 4,279 shares during the period. Finally, AlTi Global Inc. acquired a new position in Frontier Group in the second quarter valued at about $21,222,000.

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.