Frontier Group (NASDAQ:ULCC) Shares Down 10.2% - Should You Sell?

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) traded down 10.2% during mid-day trading on Monday . The stock traded as low as $5.96 and last traded at $5.97. 1,532,711 shares traded hands during trading, a decline of 48% from the average session volume of 2,954,373 shares. The stock had previously closed at $6.64.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Barclays raised their price objective on Frontier Group from $10.00 to $14.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft lowered Frontier Group from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $12.00 to $8.00 in a report on Tuesday, March 4th. Morgan Stanley raised their price objective on Frontier Group from $7.00 to $10.00 and gave the stock an "equal weight" rating in a report on Monday, February 24th. Susquehanna raised 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. Finally, UBS Group raised their price objective on Frontier Group from $6.00 to $8.50 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. One investment 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. According to data from MarketBeat.com, Frontier Group currently has a consensus rating of "Hold" and an average target price of $7.74.

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Frontier Group Price Performance

The stock has a fifty day simple moving average of $7.99 and a two-hundred day simple moving average of $6.48. The company has a market cap of $1.35 billion, a PE ratio of 16.51 and a beta of 2.37. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45.

Frontier Group (NASDAQ:ULCC - Get Free Report) last announced its quarterly earnings data 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%. On average, equities analysts predict that Frontier Group Holdings, Inc. will post 0.91 EPS for the current fiscal year.

Insider Activity

In other news, EVP Howard Diamond sold 87,830 shares of Frontier Group stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $8.77, for a total transaction of $770,269.10. Following the completion of the sale, the executive vice president now directly owns 175,886 shares in the company, valued at approximately $1,542,520.22. This trade represents a 33.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Steve Schuller sold 5,000 shares of Frontier Group stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total value of $35,350.00. Following the transaction, the senior vice president now owns 47,590 shares of the company's stock, valued at $336,461.30. This represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 860,982 shares of company stock worth $6,912,597. Company insiders own 81.50% of the company's stock.

Institutional Investors Weigh In On Frontier Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Frontier Group by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 8,186,633 shares of the company's stock valued at $58,207,000 after buying an additional 26,682 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in Frontier Group by 31.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,396,885 shares of the company's stock valued at $17,042,000 after buying an additional 578,151 shares in the last quarter. Towle & Co. lifted its stake in Frontier Group by 6.1% in the 4th 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 in the last quarter. Voloridge Investment Management LLC lifted 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 valued at $12,101,000 after buying an additional 1,520,094 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Frontier Group by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 1,625,953 shares of the company's stock valued at $11,564,000 after buying an additional 35,355 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.