Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) rose 7.3% during trading on Monday following a stronger than expected earnings report. The stock traded as high as $9.96 and last traded at $10.03. Approximately 1,999,999 shares traded hands during trading, a decline of 23% from the average daily volume of 2,598,872 shares. The stock had previously closed at $9.34.
The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.20.
Analyst Upgrades and Downgrades
ULCC has been the subject of a number of research analyst reports. UBS Group upped their price target on shares of Frontier Group from $6.00 to $8.50 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Susquehanna increased their target price on shares of Frontier Group from $6.00 to $8.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. Morgan Stanley decreased their price target on shares of Frontier Group from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft upgraded Frontier Group from a "hold" rating to a "buy" rating and increased their price objective for the company from $6.00 to $8.00 in a research report on Wednesday, December 11th. Finally, Citigroup boosted their target price on Frontier Group from $4.70 to $7.15 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Frontier Group has an average rating of "Hold" and an average price target of $7.41.
Check Out Our Latest Stock Analysis on ULCC
Insider Transactions at Frontier Group
In related news, CEO Barry Biffle sold 273,000 shares of the firm's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $8.44, for a total value of $2,304,120.00. Following the transaction, the chief executive officer now directly owns 816,817 shares of the company's stock, valued at approximately $6,893,935.48. This trade represents a 25.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Josh T. Connor sold 30,000 shares of the company's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total transaction of $172,200.00. Following the sale, the director now directly owns 326,550 shares of the company's stock, valued at approximately $1,874,397. This represents a 8.41 % decrease in their ownership of the stock. 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 owned by insiders.
Institutional Trading of Frontier Group
Hedge funds have recently bought and sold shares of the stock. R Squared Ltd acquired a new position in shares of Frontier Group during the fourth quarter valued at about $32,000. KLP Kapitalforvaltning AS bought a new position in Frontier Group during the fourth quarter valued at about $50,000. Victory Capital Management Inc. acquired a new position in Frontier Group in the 3rd quarter valued at approximately $54,000. Ballentine Partners LLC bought a new stake in shares of Frontier Group in the 3rd quarter worth approximately $55,000. Finally, Nisa Investment Advisors LLC grew its holdings 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 worth $57,000 after purchasing an additional 7,380 shares in the last quarter.
Frontier Group Price Performance
The company has a fifty day moving average price of $7.67 and a two-hundred day moving average price of $5.91. 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 company has a market cap of $1.92 billion, a price-to-earnings ratio of -213.20 and a beta of 2.35.
Frontier Group Company Profile
(
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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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