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

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

Analyst Ratings Changes

Several research firms recently weighed in on ULCC. Citigroup upped their price target on Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Evercore ISI boosted their price target 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. Deutsche Bank Aktiengesellschaft upgraded shares of Frontier Group from a “hold” rating to a “buy” rating and boosted their target price for the company from $6.00 to $8.00 in a research report on Wednesday, December 11th. Barclays lifted their price objective on shares of Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Finally, 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 research report on Wednesday, December 11th. One equities research 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.96.

Frontier Group Stock Up 3.4 %

The company has a market cap of $1.91 billion, a P/E ratio of -212.15 and a beta of 2.32. The firm’s 50 day moving average price is $7.07 and its two-hundred day moving average price is $5.57. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.48 and a current ratio of 0.53.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The company had revenue of $935.00 million for the quarter, compared to analyst estimates of $943.30 million. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.14) earnings per share. Equities research analysts anticipate that Frontier Group Holdings, Inc. will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling at Frontier Group

In other Frontier Group news, CEO Barry Biffle sold 160,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $6.88, for a total transaction of $1,100,800.00. Following the completion of the transaction, the chief executive officer now owns 784,817 shares in the company, valued at $5,399,540.96. This trade represents a 16.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Josh T. Connor sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total transaction of $172,200.00. Following the completion of the transaction, the director now directly owns 326,550 shares of the company’s stock, valued at approximately $1,874,397. This trade represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 788,000 shares of company stock worth $6,214,070. Corporate insiders own 81.50% of the company’s stock.

Hedge Funds Weigh In On Frontier Group

Several institutional investors have recently modified their holdings of ULCC. U S Global Investors Inc. grew its position in Frontier Group by 71.4% during the third quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock valued at $40,473,000 after acquiring an additional 3,150,768 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of Frontier Group by 235.7% during the 3rd 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 position in Frontier Group by 38.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after buying an additional 441,001 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in 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 acquiring an additional 269,221 shares in the last quarter. Finally, Jade Capital Advisors LLC grew its stake in shares of Frontier Group by 624.3% in the third quarter. Jade Capital Advisors LLC now owns 249,436 shares of the company’s stock worth $1,334,000 after acquiring 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.