Frontier Group (NASDAQ:ULCC) Reaches New 12-Month High - What's Next?

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $8.42 and last traded at $8.42, with a volume of 266531 shares changing hands. The stock had previously closed at $8.33.

Analyst Upgrades and Downgrades

ULCC has been the subject of a number of recent research reports. Raymond James raised shares of Frontier Group from an "underperform" rating to a "market perform" rating in a research report on Monday, September 30th. UBS Group increased their target price on Frontier Group from $6.00 to $8.50 and gave the stock a "neutral" rating in a research report on Tuesday, January 7th. Evercore ISI lifted their price target on shares of Frontier Group from $4.00 to $5.00 and gave the company an "in-line" rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft raised Frontier Group from a "hold" rating to a "buy" rating and increased their price target for the company from $6.00 to $8.00 in a research note on Wednesday, December 11th. Finally, Susquehanna lifted their price objective 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 investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Frontier Group has an average rating of "Hold" and an average price target of $6.96.

Frontier Group Stock Down 1.0 %

The company has a market cap of $1.86 billion, a PE ratio of -205.95 and a beta of 2.32. 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 company's 50 day moving average is $6.63 and its 200 day moving average is $5.28.

Frontier Group (NASDAQ:ULCC - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.03). The firm had revenue of $935.00 million for the quarter, compared to analyst estimates of $943.30 million. The business's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.14) earnings per share. As a group, analysts predict that Frontier Group Holdings, Inc. will post 0.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Josh T. Connor sold 30,000 shares of Frontier Group stock in a transaction dated Tuesday, December 3rd. The stock was 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 directly 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Steve Schuller sold 5,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total transaction of $35,350.00. Following the transaction, the senior vice president now owns 47,590 shares in the company, valued at approximately $336,461.30. The trade was a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 355,000 shares of company stock worth $2,569,150. 81.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Frontier Group

A number of large investors have recently bought and sold shares of ULCC. AlTi Global Inc. purchased a new stake in shares of Frontier Group during the 2nd quarter worth $21,222,000. U S Global Investors Inc. boosted its holdings in shares of Frontier Group by 71.4% in the 3rd quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company's stock valued at $40,473,000 after buying an additional 3,150,768 shares in the last quarter. Verition Fund Management LLC raised 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 worth $3,457,000 after acquiring an additional 453,736 shares in the last quarter. Geode Capital Management LLC lifted its position in Frontier Group by 38.4% during the third quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company's stock valued at $8,512,000 after acquiring an additional 441,001 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew 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 purchasing an additional 269,221 shares during 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.