Frontier Group (NASDAQ:ULCC) Stock Price Down 10.2% – Time to Sell?

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s share price dropped 10.2% during trading on Monday . The stock traded as low as $5.96 and last traded at $5.97. Approximately 1,532,711 shares changed hands during trading, a decline of 48% from the average daily volume of 2,954,373 shares. The stock had previously closed at $6.64.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft downgraded Frontier Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from $12.00 to $8.00 in a report on Tuesday, March 4th. Susquehanna lifted their price objective 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 increased their target price on shares of Frontier Group from $7.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Monday, February 24th. Barclays raised their price target on shares of Frontier Group from $10.00 to $14.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, UBS Group upped their price objective 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $7.74.

Frontier Group Price Performance

The stock has a market capitalization of $1.37 billion, a P/E ratio of 16.78 and a beta of 2.37. The business has a fifty day simple moving average of $8.09 and a 200 day simple moving average of $6.45. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45.

Frontier Group (NASDAQ:ULCC) last announced its 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%. On average, analysts expect that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current year.

Insider Activity at Frontier Group

In other Frontier Group news, EVP Howard Diamond sold 87,830 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $8.77, for a total value of $770,269.10. Following the completion of the sale, the executive vice president now owns 175,886 shares in the company, valued at approximately $1,542,520.22. This trade represents a 33.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Barry Biffle sold 273,000 shares of Frontier Group stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $8.44, for a total transaction of $2,304,120.00. Following the transaction, the chief executive officer now directly owns 816,817 shares in the company, valued at approximately $6,893,935.48. This represents a 25.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 845,830 shares of company stock valued at $6,812,139 over the last ninety days. Corporate insiders own 81.50% of the company’s stock.

Institutional Investors Weigh In On Frontier Group

Hedge funds have recently made changes to their positions in the business. R Squared Ltd purchased a new stake in Frontier Group during the fourth quarter worth about $32,000. KLP Kapitalforvaltning AS purchased a new position in Frontier Group in the fourth quarter valued at approximately $50,000. Victory Capital Management Inc. bought a new position in Frontier Group during the third quarter valued at $54,000. Nisa Investment Advisors LLC increased its position in Frontier Group by 1,230.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock worth $57,000 after buying an additional 7,380 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Frontier Group by 251.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock valued at $64,000 after buying an additional 8,507 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.