Frontier Group (NASDAQ:ULCC) Shares Gap Down – What’s Next?

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $6.93, but opened at $6.53. Frontier Group shares last traded at $6.35, with a volume of 814,067 shares traded.

Analyst Ratings Changes

Several research firms have weighed in on ULCC. Barclays raised their price objective on shares of Frontier Group from $10.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft lowered shares of Frontier Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $12.00 to $8.00 in a report on Tuesday. Morgan Stanley upped their price objective on Frontier Group from $7.00 to $10.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. Susquehanna lifted their target price on Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Finally, UBS Group upped their price target on Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.74.

Frontier Group Trading Down 3.6 %

The business has a 50 day moving average of $8.12 and a 200 day moving average of $6.36. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 18.63 and a beta of 2.35. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.48.

Frontier Group (NASDAQ:ULCC) last posted its earnings results on Friday, February 7th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.20. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. As a group, research analysts predict that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current fiscal year.

Insider Activity at Frontier Group

In other news, EVP Howard Diamond sold 87,830 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $8.77, for a total transaction of $770,269.10. Following the sale, the executive vice president now owns 175,886 shares of the company’s stock, valued at $1,542,520.22. This trade represents a 33.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Barry Biffle sold 160,000 shares of Frontier Group stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $6.88, for a total value of $1,100,800.00. Following 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 845,830 shares of company stock worth $6,812,139. 81.50% of the stock is currently owned by company insiders.

Institutional Trading of Frontier Group

Several hedge funds have recently bought and sold shares of ULCC. Price T Rowe Associates Inc. MD boosted its holdings in shares of Frontier Group by 8.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,442 shares of the company’s stock valued at $217,000 after buying an additional 2,296 shares during the period. Rhumbline Advisers lifted its position in Frontier Group by 4.4% in the 4th quarter. Rhumbline Advisers now owns 55,354 shares of the company’s stock valued at $394,000 after acquiring an additional 2,334 shares in the last quarter. R Squared Ltd acquired a new position in Frontier Group in the 4th quarter worth $32,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Frontier Group by 8.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,359 shares of the company’s stock worth $536,000 after purchasing an additional 5,834 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Frontier Group in the 4th quarter valued at about $50,000.

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.