Frontier Group (NASDAQ:ULCC) Stock Price Down 5.3% After Analyst Downgrade

Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report)'s share price fell 5.3% during mid-day trading on Thursday after UBS Group lowered their price target on the stock from $10.00 to $7.00. UBS Group currently has a neutral rating on the stock. Frontier Group traded as low as $5.73 and last traded at $5.65. 332,323 shares were traded during trading, a decline of 85% from the average session volume of 2,191,505 shares. The stock had previously closed at $5.96.

Several other research analysts have also weighed in on ULCC. Barclays upped 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. Citigroup restated a "neutral" rating and issued a $7.25 price target on shares of Frontier Group in a report on Thursday. Susquehanna lifted their price objective on Frontier Group from $6.00 to $8.00 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. Morgan Stanley raised their price target on Frontier Group from $7.00 to $10.00 and gave the company an "equal weight" rating in a research report on Monday, February 24th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Frontier Group from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $12.00 to $8.00 in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Frontier Group has an average rating of "Hold" and an average price target of $7.58.

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Insider Buying and Selling at Frontier Group

In other Frontier Group news, SVP Alexandre Clerc sold 15,152 shares of Frontier Group stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $6.63, for a total value of $100,457.76. Following the completion of the sale, the senior vice president now directly owns 23,912 shares of the company's stock, valued at approximately $158,536.56. The trade was a 38.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Howard Diamond sold 87,830 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $8.77, for a total value of $770,269.10. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 700,982 shares of company stock worth $5,811,797. Corporate insiders own 81.50% of the company's stock.

Institutional Investors Weigh In On Frontier Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Voloridge Investment Management LLC boosted its stake 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 buying an additional 1,520,094 shares during the last quarter. Highland Peak Capital LLC acquired a new stake in shares of Frontier Group in the fourth quarter worth approximately $6,492,000. Two Sigma Investments LP grew its holdings in Frontier Group by 488.9% in the fourth quarter. Two Sigma Investments LP now owns 980,426 shares of the company's stock valued at $6,971,000 after purchasing an additional 813,929 shares during the period. Empyrean Capital Partners LP acquired a new position in Frontier Group during the fourth quarter worth approximately $4,977,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Frontier Group by 247.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 926,093 shares of the company's stock worth $6,585,000 after purchasing an additional 659,811 shares during the period.

Frontier Group Stock Performance

The stock's fifty day simple moving average is $7.73 and its two-hundred day simple moving average is $6.62. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 15.67 and a beta of 2.37. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.48 and a current ratio of 0.53.

Frontier Group (NASDAQ:ULCC - Get Free Report) last issued its earnings results on Friday, February 7th. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.20. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. Equities research analysts anticipate that Frontier Group Holdings, Inc. will post 0.91 EPS for the current year.

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.