Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report)'s stock price was down 7.7% during mid-day trading on Monday . The stock traded as low as $4.27 and last traded at $4.43. Approximately 453,619 shares changed hands during trading, a decline of 80% from the average daily volume of 2,262,212 shares. The stock had previously closed at $4.80.
Analyst Upgrades and Downgrades
ULCC has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of Frontier Group from a "buy" rating to a "hold" rating and lowered their target price for the company from $12.00 to $8.00 in a report on Tuesday, March 4th. Morgan Stanley upped their price objective on shares of Frontier Group from $7.00 to $10.00 and gave the company an "equal weight" rating in a report on Monday, February 24th. Barclays lifted their price objective on shares of Frontier Group from $10.00 to $14.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Susquehanna boosted their price objective on Frontier Group from $6.00 to $8.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. Finally, Bank of America cut their target price on Frontier Group from $10.00 to $7.00 and set a "neutral" rating for the company in a research note on Thursday. 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 company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $7.81.
Check Out Our Latest Stock Report on Frontier Group
Frontier Group Price Performance
The business has a 50 day simple moving average of $7.08 and a two-hundred day simple moving average of $6.63. The firm has a market capitalization of $786.28 million, a P/E ratio of 9.61 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 posted its quarterly earnings data on Friday, February 7th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.20. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. On average, sell-side analysts expect that Frontier Group Holdings, Inc. will post 0.91 EPS for the current fiscal year.
Insider Transactions at Frontier Group
In other news, EVP Howard Diamond sold 87,830 shares of the company'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 sale, the executive vice president now owns 175,886 shares of the company's stock, valued at approximately $1,542,520.22. This represents a 33.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Barry Biffle sold 273,000 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $8.44, for a total transaction of $2,304,120.00. Following the transaction, the chief executive officer now directly owns 816,817 shares in the company, valued at approximately $6,893,935.48. This represents a 25.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 695,982 shares of company stock valued at $5,776,447. Insiders own 81.50% of the company's stock.
Institutional Trading of Frontier Group
Institutional investors have recently added to or reduced their stakes in the business. Voloridge Investment Management LLC lifted its stake in shares of 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 acquiring an additional 1,520,094 shares during the last quarter. Highland Peak Capital LLC purchased a new position in Frontier Group in the 4th quarter worth approximately $6,492,000. Two Sigma Investments LP lifted its position 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 last quarter. Empyrean Capital Partners LP bought a new stake in Frontier Group in the fourth quarter valued at approximately $4,977,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of 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 valued at $6,585,000 after purchasing an additional 659,811 shares during the period.
About Frontier Group
(
Get Free Report)
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.
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