Frontier Group (NASDAQ:ULCC) Trading Down 7.7% – Here’s What Happened

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s share price fell 7.7% on Monday . The stock traded as low as $4.27 and last traded at $4.43. 453,619 shares were traded during trading, a decline of 80% from the average session volume of 2,262,212 shares. The stock had previously closed at $4.80.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Barclays lifted their target price on shares of Frontier Group from $10.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. UBS Group lowered their target price on Frontier Group from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. Deutsche Bank Aktiengesellschaft lowered shares of Frontier Group from a “buy” rating to a “hold” rating and reduced their price target for the company from $12.00 to $8.00 in a research report on Tuesday, March 4th. Citigroup reaffirmed a “neutral” rating and issued a $7.25 price objective on shares of Frontier Group in a research report on Thursday, March 20th. Finally, Susquehanna raised their price target on shares of Frontier Group from $6.00 to $8.00 and gave the stock 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 given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.58.

Frontier Group Price Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.48. The firm has a market capitalization of $981.71 million, a PE ratio of 12.00 and a beta of 2.37. The business’s 50 day moving average is $7.26 and its two-hundred day moving average is $6.66.

Frontier Group (NASDAQ:ULCC) last announced 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 net margin of 2.25% and a return on equity of 9.83%. As a group, research analysts anticipate that Frontier Group Holdings, Inc. will post 0.91 EPS for the current year.

Insider Activity

In related news, SVP Steve Schuller sold 5,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $7.07, for a total transaction of $35,350.00. Following the completion of the sale, the senior vice president now directly owns 47,590 shares in the company, valued at $336,461.30. This represents a 9.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Barry Biffle sold 160,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $7.88, for a total transaction of $1,260,800.00. Following the sale, the chief executive officer now owns 1,024,817 shares of the company’s stock, valued at approximately $8,075,557.96. This represents a 13.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 700,982 shares of company stock worth $5,811,797. 81.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Frontier Group by 8.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,359 shares of the company’s stock valued at $536,000 after acquiring an additional 5,834 shares in the last quarter. Voloridge Investment Management LLC raised its holdings in Frontier Group by 835.6% in the 4th quarter. Voloridge Investment Management LLC now owns 1,702,008 shares of the company’s stock worth $12,101,000 after purchasing an additional 1,520,094 shares in the last quarter. Squarepoint Ops LLC boosted its stake in shares of Frontier Group by 1,494.8% during the 4th quarter. Squarepoint Ops LLC now owns 384,403 shares of the company’s stock valued at $2,733,000 after purchasing an additional 360,299 shares in the last quarter. Towle & Co. increased its position in shares of Frontier Group by 6.1% during the fourth quarter. Towle & Co. now owns 2,348,882 shares of the company’s stock valued at $16,701,000 after buying an additional 134,723 shares during the period. Finally, Two Sigma Advisers LP raised its stake in Frontier Group by 310.2% in the fourth quarter. Two Sigma Advisers LP now owns 274,400 shares of the company’s stock worth $1,951,000 after buying an additional 207,500 shares in the last quarter.

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.