Stock Traders Buy Large Volume of Call Options on Frontier Group (NASDAQ:ULCC)

Frontier Group Holdings, Inc. (NASDAQ:ULCC) saw unusually large options trading on Monday. Investors acquired 3,800 call options on the stock. This is an increase of approximately 341% compared to the average volume of 861 call options.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Citigroup boosted their price objective on Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. downgraded Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. Bank of America lowered 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. Evercore ISI increased their price target on Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Finally, TD Cowen increased their price target on Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Frontier Group has a consensus rating of “Hold” and an average target price of $6.02.

Frontier Group Price Performance

Frontier Group stock opened at $6.22 on Wednesday. The stock’s fifty day moving average price is $4.94 and its two-hundred day moving average price is $4.97. Frontier Group has a one year low of $2.79 and a one year high of $8.33. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.52 and a quick ratio of 0.48. The firm has a market cap of $1.40 billion, a PE ratio of -21.45 and a beta of 2.55.

Frontier Group (NASDAQ:ULCC) last posted 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). Frontier Group had a negative return on equity of 4.09% and a negative net margin of 1.77%. The company had revenue of $935.00 million for the quarter, compared to the consensus estimate of $943.30 million. During the same quarter last year, the business earned ($0.14) EPS. Frontier Group’s revenue was up 5.9% on a year-over-year basis. As a group, research analysts expect that Frontier Group will post 0.06 EPS for the current fiscal year.

Insider Transactions at Frontier Group

In other news, SVP Steve Schuller sold 10,000 shares of Frontier Group 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 sale, the senior vice president now owns 34,035 shares of the company’s stock, valued at approximately $204,210. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 81.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Frontier Group

A number of hedge funds have recently added to or reduced their stakes in the stock. U S Global Investors Inc. increased its stake in Frontier Group by 71.4% during the 3rd quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock worth $40,473,000 after acquiring an additional 3,150,768 shares during the period. AlTi Global Inc. bought a new position in shares of Frontier Group in the 2nd quarter valued at $21,222,000. Vanguard Group Inc. increased its stake in shares of Frontier Group by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 4,116,430 shares of the company’s stock valued at $33,384,000 after purchasing an additional 60,943 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Frontier Group by 11.0% in the 1st quarter. Russell Investments Group Ltd. now owns 1,104,292 shares of the company’s stock valued at $8,956,000 after purchasing an additional 109,418 shares during the last quarter. Finally, Boston Partners increased its stake in shares of Frontier Group by 176.6% in the 1st quarter. Boston Partners now owns 1,053,270 shares of the company’s stock valued at $8,518,000 after purchasing an additional 672,471 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.