Frontier Group (NASDAQ:ULCC) Trading 6.6% Higher - Here's Why

Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) rose 6.6% during mid-day trading on Wednesday . The stock traded as high as $3.53 and last traded at $3.52. Approximately 411,699 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 2,368,391 shares. The stock had previously closed at $3.30.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ULCC shares. Susquehanna dropped their price objective on shares of Frontier Group from $9.00 to $3.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Bank of America dropped their price target on Frontier Group from $10.00 to $7.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Morgan Stanley upped their price objective 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. Citigroup decreased their price objective on Frontier Group from $7.25 to $4.00 and set a "neutral" rating on the stock in a research note on Friday. Finally, UBS Group reduced their target price on shares of Frontier Group from $7.00 to $4.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $6.11.

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Frontier Group Stock Performance

The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45. The firm has a market cap of $718.10 million, a PE ratio of 8.78 and a beta of 2.52. The stock's 50 day moving average price is $6.33 and its 200 day moving average price is $6.59.

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

Insider Buying and Selling

In other Frontier Group news, SVP Alexandre Clerc sold 15,152 shares of the company's stock in a transaction dated 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 transaction, the senior vice president now directly owns 23,912 shares of the company's stock, valued at $158,536.56. This represents a 38.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Barry Biffle sold 160,000 shares of Frontier Group stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $8.38, for a total value of $1,340,800.00. Following the sale, the chief executive officer now directly owns 864,817 shares in the company, valued at approximately $7,247,166.46. The trade was a 15.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 535,982 shares of company stock valued at $4,515,647. Corporate insiders own 81.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ULCC. Geode Capital Management LLC lifted its stake in Frontier Group by 38.4% during the third quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company's stock worth $8,512,000 after purchasing an additional 441,001 shares during the last quarter. Barclays PLC raised its holdings in shares of Frontier Group by 378.6% during the third quarter. Barclays PLC now owns 72,866 shares of the company's stock worth $389,000 after purchasing an additional 57,642 shares during the period. Vanguard Group Inc. lifted its position in shares of Frontier Group by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 8,186,633 shares of the company's stock worth $58,207,000 after buying an additional 26,682 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Frontier Group by 1,230.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company's stock valued at $57,000 after buying an additional 7,380 shares during the period. Finally, American Century Companies Inc. bought a new stake in shares of Frontier Group during the 4th quarter valued at about $379,000.

About Frontier Group

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.