Investors Purchase High Volume of Frontier Group Call Options (NASDAQ:ULCC)

Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) saw some unusual options trading activity on Monday. Traders bought 3,800 call options on the company. This represents an increase of 341% compared to the average volume of 861 call options.

Frontier Group Price Performance

Shares of NASDAQ ULCC traded up $0.24 on Monday, hitting $7.27. The company's stock had a trading volume of 2,176,592 shares, compared to its average volume of 2,081,609. Frontier Group has a 12-month low of $2.79 and a 12-month high of $8.33. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -25.07 and a beta of 2.55. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.52 and a quick ratio of 0.48. The stock has a 50 day moving average of $4.88 and a 200-day moving average of $4.97.

Frontier Group (NASDAQ:ULCC - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. Frontier Group had a negative net margin of 1.77% and a negative return on equity of 4.09%. The company had revenue of $973.00 million for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $0.31 earnings per share. The company's revenue for the quarter was up .6% compared to the same quarter last year. As a group, research analysts predict that Frontier Group will post 0.06 EPS for the current year.

Insider Buying and Selling at Frontier Group

In other Frontier Group news, SVP Steve Schuller sold 10,000 shares of Frontier Group stock in a transaction on Friday, October 4th. The shares were sold at an average price of $6.00, for a total value of $60,000.00. Following the transaction, the senior vice president now directly owns 34,035 shares in the company, valued at approximately $204,210. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 81.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Frontier Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Frontier Group by 11.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,010 shares of the company's stock valued at $211,000 after buying an additional 2,746 shares during the period. Arizona State Retirement System lifted its stake in shares of Frontier Group by 29.0% during the second quarter. Arizona State Retirement System now owns 15,672 shares of the company's stock valued at $77,000 after buying an additional 3,521 shares during the period. Rhumbline Advisers lifted its stake in shares of Frontier Group by 2.3% during the second quarter. Rhumbline Advisers now owns 160,070 shares of the company's stock valued at $789,000 after buying an additional 3,543 shares during the period. Blue Trust Inc. lifted its stake in shares of Frontier Group by 41.2% during the third quarter. Blue Trust Inc. now owns 12,828 shares of the company's stock valued at $63,000 after buying an additional 3,744 shares during the period. Finally, XTX Topco Ltd lifted its stake in shares of Frontier Group by 10.6% during the second quarter. XTX Topco Ltd now owns 41,103 shares of the company's stock valued at $203,000 after buying an additional 3,936 shares during the period.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ULCC. Barclays dropped their price target on shares of Frontier Group from $7.00 to $6.00 and set an "overweight" rating on the stock in a research note on Monday, August 12th. TD Cowen boosted their price target on shares of Frontier Group from $3.00 to $4.00 and gave the stock a "hold" rating in a research note on Monday, September 16th. Citigroup boosted their price target on shares of Frontier Group from $4.70 to $7.15 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. Raymond James raised shares of Frontier Group from an "underperform" rating to a "market perform" rating in a report on Monday, September 30th. Finally, Evercore ISI boosted their price objective on shares of Frontier Group from $4.00 to $5.00 and gave the stock an "in-line" rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $6.02.

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.