Frontier Group (NASDAQ:ULCC) Shares Down 6.4%

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) traded down 6.4% on Tuesday . The company traded as low as $5.68 and last traded at $5.71. 906,187 shares traded hands during trading, a decline of 58% from the average session volume of 2,179,603 shares. The stock had previously closed at $6.10.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ULCC shares. Evercore ISI upped their price target on Frontier Group from $7.00 to $8.50 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. UBS Group assumed coverage on Frontier Group in a research note on Wednesday, March 20th. They issued a “neutral” rating and a $8.00 target price on the stock. TD Cowen reduced their price objective on shares of Frontier Group from $8.00 to $6.50 and set a “hold” rating for the company in a research note on Friday, May 3rd. Susquehanna upped their price objective on Frontier Group from $5.00 to $7.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Finally, Barclays upped their target price on shares of Frontier Group from $7.00 to $9.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.28.

Frontier Group Stock Down 1.6 %

The company has a current ratio of 0.50, a quick ratio of 0.46 and a debt-to-equity ratio of 0.49. The firm has a market cap of $1.26 billion, a PE ratio of -46.75 and a beta of 2.63. The company’s 50 day moving average price is $6.68 and its two-hundred day moving average price is $5.91.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. The business had revenue of $865.00 million during the quarter, compared to analysts’ expectations of $859.21 million. Frontier Group had a positive return on equity of 3.62% and a negative net margin of 0.67%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.06) earnings per share. On average, equities research analysts expect that Frontier Group Holdings, Inc. will post 0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other Frontier Group news, CEO Barry Biffle sold 151,620 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $7.72, for a total value of $1,170,506.40. Following the completion of the transaction, the chief executive officer now directly owns 772,981 shares in the company, valued at $5,967,413.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 81.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Signaturefd LLC purchased a new position in shares of Frontier Group in the third quarter valued at about $28,000. PNC Financial Services Group Inc. boosted its stake in Frontier Group by 632.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,768 shares of the company’s stock worth $28,000 after purchasing an additional 4,980 shares during the period. NBC Securities Inc. bought a new position in Frontier Group in the 3rd quarter worth approximately $58,000. Private Advisor Group LLC purchased a new stake in Frontier Group during the 4th quarter valued at approximately $59,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Frontier Group by 200.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,666 shares of the company’s stock valued at $64,000 after buying an additional 7,782 shares during the last quarter.

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.