Frontier Group (NASDAQ:ULCC) Sets New 1-Year High on Better-Than-Expected Earnings

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) reached a new 52-week high on Friday following a better than expected earnings announcement. The company traded as high as $9.37 and last traded at $9.30, with a volume of 154994 shares changing hands. The stock had previously closed at $8.09.

The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.20.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ULCC shares. Deutsche Bank Aktiengesellschaft raised Frontier Group from a "hold" rating to a "buy" rating and boosted their price target for the company from $6.00 to $8.00 in a research note on Wednesday, December 11th. Susquehanna lifted their price target on shares of Frontier Group from $6.00 to $8.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. Citigroup increased their price objective on shares of Frontier Group from $4.70 to $7.15 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. UBS Group upped 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. Finally, Morgan Stanley decreased their price target on shares of Frontier Group from $8.00 to $7.00 and set an "equal weight" rating for the company in a research note on Wednesday, December 11th. One 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, Frontier Group currently has an average rating of "Hold" and an average target price of $7.41.

Insider Activity at Frontier Group

In related news, CEO Barry Biffle sold 160,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $6.88, for a total value of $1,100,800.00. Following the sale, the chief executive officer now owns 784,817 shares in the company, valued at approximately $5,399,540.96. This trade represents a 16.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Steve Schuller sold 5,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total transaction of $35,350.00. Following the completion of the transaction, the senior vice president now directly owns 47,590 shares in the company, valued at $336,461.30. The trade was a 9.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 788,000 shares of company stock valued at $6,214,070. 81.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. R Squared Ltd bought a new position in shares of Frontier Group during the 4th quarter valued at $32,000. KLP Kapitalforvaltning AS bought a new position in shares of Frontier Group during the fourth quarter valued at about $50,000. Victory Capital Management Inc. bought a new stake in shares of Frontier Group in the 3rd quarter valued at about $54,000. Ballentine Partners LLC bought a new position in Frontier Group during the 3rd quarter worth approximately $55,000. Finally, Nisa Investment Advisors LLC increased its stake in Frontier Group by 1,230.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company's stock worth $57,000 after purchasing an additional 7,380 shares during the period.

Frontier Group Stock Down 3.7 %

The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57. The stock has a market cap of $2.18 billion, a P/E ratio of -242.56 and a beta of 2.35. The company has a 50-day simple moving average of $7.53 and a two-hundred day simple moving average of $5.84.

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.