Frontier Group (NASDAQ:ULCC) Stock Price Up 6.5% – What’s Next?

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s stock price shot up 6.5% during trading on Wednesday . The stock traded as high as $6.60 and last traded at $6.40. 688,566 shares traded hands during trading, a decline of 68% from the average session volume of 2,133,323 shares. The stock had previously closed at $6.01.

Analyst Ratings Changes

ULCC has been the subject of a number of analyst reports. Bank of America decreased their price target on Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Raymond James raised shares of Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. Susquehanna boosted their price objective on shares of Frontier Group from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Citigroup boosted their price target on Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Evercore ISI raised their price objective on Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.46.

Frontier Group Stock Performance

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 business has a fifty day simple moving average of $6.17 and a 200 day simple moving average of $4.96.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The business had revenue of $935.00 million for the quarter, compared to analysts’ expectations of $943.30 million. During the same period in the previous year, the company posted ($0.14) earnings per share. Frontier Group’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, research analysts forecast that Frontier Group Holdings, Inc. will post 0.04 earnings per share for the current fiscal year.

Insider Activity at Frontier Group

In related news, SVP Steve Schuller sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $6.00, for a total transaction of $60,000.00. Following the completion of the transaction, the senior vice president now owns 34,035 shares in the company, valued at $204,210. The trade was a 22.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Josh T. Connor sold 30,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total value of $172,200.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 81.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. bought a new stake in shares of Frontier Group during the second quarter valued at approximately $45,000. nVerses Capital LLC raised its stake in Frontier Group by 152.5% during the 2nd quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock valued at $50,000 after acquiring an additional 6,100 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Frontier Group during the 3rd quarter worth $54,000. Ballentine Partners LLC bought a new position in shares of Frontier Group in the third quarter worth $55,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Frontier Group during the second quarter valued at $58,000.

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.