Frontier Group (NASDAQ:ULCC) Shares Down 5.1% - Time to Sell?

Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) traded down 5.1% during mid-day trading on Tuesday . The company traded as low as $7.87 and last traded at $7.94. 240,028 shares traded hands during trading, a decline of 89% from the average session volume of 2,207,656 shares. The stock had previously closed at $8.37.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ULCC. Morgan Stanley dropped their target price on shares of Frontier Group from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft upgraded Frontier Group from a "hold" rating to a "buy" rating and upped their price objective for the company from $6.00 to $8.00 in a research note on Wednesday, December 11th. UBS Group raised 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. Barclays boosted their target price on Frontier Group from $7.00 to $10.00 and gave the company an "overweight" rating in a research note on Thursday, November 14th. Finally, 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $6.96.

Frontier Group Price Performance

The business has a fifty day moving average of $7.19 and a 200-day moving average of $5.64. 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 firm has a market cap of $1.85 billion, a PE ratio of -206.32 and a beta of 2.34.

Insider Transactions at Frontier Group

In related news, CEO Barry Biffle sold 160,000 shares of the business's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $6.88, for a total transaction of $1,100,800.00. Following the completion of the transaction, the chief executive officer now directly owns 784,817 shares in the company, valued at $5,399,540.96. The trade was a 16.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Steve Schuller sold 5,000 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $7.07, for a total value 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 approximately $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 ninety days, insiders have sold 788,000 shares of company stock valued at $6,214,070. 81.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Frontier Group

Hedge funds have recently made changes to their positions in the stock. R Squared Ltd bought a new position in Frontier Group in the fourth quarter valued at $32,000. Nisa Investment Advisors LLC increased its position in shares of Frontier Group by 1,230.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company's stock valued at $57,000 after purchasing an additional 7,380 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Frontier Group during the 3rd quarter valued at about $54,000. Ballentine Partners LLC bought a new stake in Frontier Group in the 3rd quarter worth approximately $55,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Frontier Group by 251.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company's stock worth $64,000 after buying an additional 8,507 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.