Frontier Group (NASDAQ:ULCC) Trading Down 5.1% - What's Next?

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) traded down 5.1% during trading on Friday . The company traded as low as $6.76 and last traded at $6.86. 574,622 shares were traded during trading, a decline of 63% from the average session volume of 1,571,462 shares. The stock had previously closed at $7.23.

Wall Street Analysts Forecast Growth

ULCC has been the topic of a number of recent analyst reports. Susquehanna increased their price objective on shares of Frontier Group from $5.00 to $6.00 and gave the stock a "neutral" rating in a research report on Monday, November 4th. Morgan Stanley reduced their price target on Frontier Group from $8.00 to $7.00 and set an "equal weight" rating on the stock in a report on Wednesday, December 11th. UBS Group started coverage on Frontier Group in a report on Tuesday, November 26th. They set a "neutral" rating and a $6.00 price objective for the company. Deutsche Bank Aktiengesellschaft upgraded Frontier Group from a "hold" rating to a "buy" rating and increased their target price for the stock from $6.00 to $8.00 in a research note on Wednesday, December 11th. Finally, Barclays boosted their target price on shares of Frontier Group from $7.00 to $10.00 and gave the company an "overweight" rating in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $6.46.

Frontier Group Trading Down 1.7 %

The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1.60 billion, a PE ratio of -177.71 and a beta of 2.43. The stock's 50 day moving average is $6.35 and its two-hundred day moving average is $5.11.

Frontier Group (NASDAQ:ULCC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The firm had revenue of $935.00 million for the quarter, compared to analysts' expectations of $943.30 million. The business's revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.14) earnings per share. As a group, sell-side analysts predict that Frontier Group Holdings, Inc. will post 0.05 EPS for the current fiscal year.

Insider Activity

In related news, Director Josh T. Connor sold 30,000 shares of Frontier Group stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total value of $172,200.00. Following the completion of the sale, the director now directly owns 326,550 shares in the company, valued at $1,874,397. This trade represents a 8.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Barry Biffle sold 160,000 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 784,817 shares in the company, valued at approximately $5,399,540.96. This represents a 16.93 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 81.50% of the company's stock.

Hedge Funds Weigh In On Frontier Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of Frontier Group by 24.3% in the second quarter. Bank of New York Mellon Corp now owns 130,509 shares of the company's stock worth $643,000 after purchasing an additional 25,523 shares during the last quarter. nVerses Capital LLC raised its position in Frontier Group by 152.5% during the 2nd quarter. nVerses Capital LLC now owns 10,100 shares of the company's stock worth $50,000 after buying an additional 6,100 shares during the last quarter. Rhumbline Advisers lifted its stake in Frontier Group by 2.3% during the 2nd quarter. Rhumbline Advisers now owns 160,070 shares of the company's stock valued at $789,000 after acquiring an additional 3,543 shares during the period. Arizona State Retirement System boosted its holdings in shares of Frontier Group by 29.0% in the 2nd quarter. Arizona State Retirement System now owns 15,672 shares of the company's stock valued at $77,000 after acquiring an additional 3,521 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Frontier Group in the second quarter worth $415,000.

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.