Frontier Group (NASDAQ:ULCC) Stock Price Down 7.7% – Here’s Why

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s stock price traded down 7.7% during mid-day trading on Monday . The stock traded as low as $4.27 and last traded at $4.43. 453,619 shares were traded during trading, a decline of 80% from the average session volume of 2,262,212 shares. The stock had previously closed at $4.80.

Analyst Ratings Changes

ULCC has been the topic of several recent research reports. Morgan Stanley raised their price objective on Frontier Group from $7.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Monday, February 24th. Deutsche Bank Aktiengesellschaft cut shares of Frontier Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $12.00 to $8.00 in a research note on Tuesday, March 4th. Susquehanna upped their price target on shares of Frontier Group from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Barclays increased their price objective on shares of Frontier Group from $10.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, UBS Group lowered their target price on shares of Frontier Group from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Frontier Group presently has an average rating of “Hold” and an average price target of $7.58.

Frontier Group Stock Down 12.6 %

The business has a 50-day moving average of $7.43 and a 200 day moving average of $6.66. The company has a market capitalization of $953.31 million, a PE ratio of 11.54 and a beta of 2.37. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.48.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data on Friday, February 7th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.20. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. Equities research analysts predict that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Barry Biffle sold 160,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $7.88, for a total value of $1,260,800.00. Following the completion of the transaction, the chief executive officer now owns 1,024,817 shares of the company’s stock, valued at approximately $8,075,557.96. This trade represents a 13.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Alexandre Clerc sold 15,152 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $6.63, for a total value of $100,457.76. Following the sale, the senior vice president now directly owns 23,912 shares in the company, valued at $158,536.56. The trade was a 38.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 700,982 shares of company stock valued at $5,811,797 in the last three months. Corporate insiders own 81.50% of the company’s stock.

Institutional Trading of Frontier Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Voloridge Investment Management LLC increased its position in Frontier Group by 835.6% during the fourth 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 shares of Frontier Group during the 4th quarter worth about $6,492,000. Two Sigma Investments LP boosted its position in shares of Frontier Group by 488.9% during the fourth quarter. Two Sigma Investments LP now owns 980,426 shares of the company’s stock valued at $6,971,000 after buying an additional 813,929 shares during the period. Empyrean Capital Partners LP bought a new position in shares of Frontier Group during the fourth quarter valued at approximately $4,977,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Frontier Group by 247.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 926,093 shares of the company’s stock worth $6,585,000 after buying an additional 659,811 shares during the period.

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.