Frontier Group (NASDAQ:ULCC) Trading Up 4.8% – Here’s Why

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s stock price was up 4.8% during mid-day trading on Thursday . The stock traded as high as $6.42 and last traded at $6.38. Approximately 1,249,131 shares traded hands during trading, a decline of 42% from the average daily volume of 2,167,064 shares. The stock had previously closed at $6.09.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ULCC shares. Raymond James upgraded Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. Barclays boosted their target price on shares of Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Bank of America reduced their price target on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Evercore ISI boosted their price objective on shares of Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. Finally, Susquehanna raised their target price on shares of Frontier Group from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.46.

Frontier Group Stock Performance

The business has a 50-day moving average of $6.24 and a two-hundred day moving average of $5.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48. The company has a market cap of $1.52 billion, a P/E ratio of -168.71 and a beta of 2.43.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The firm had revenue of $935.00 million for the quarter, compared to analysts’ expectations of $943.30 million. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. On average, sell-side analysts predict that Frontier Group Holdings, Inc. will post 0.05 EPS for the current fiscal year.

Insider Activity

In other news, Director Josh T. Connor sold 30,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were 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 $1,874,397. The trade was a 8.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Steve Schuller sold 10,000 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $6.00, for a total value of $60,000.00. Following the completion of the transaction, the senior vice president now owns 34,035 shares of the company’s stock, valued at $204,210. This trade represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 81.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Algert Global LLC increased its holdings in Frontier Group by 80.2% in the 3rd quarter. Algert Global LLC now owns 451,508 shares of the company’s stock worth $2,416,000 after buying an additional 200,885 shares during the period. Creative Planning lifted its position in Frontier Group by 81.0% during the third quarter. Creative Planning now owns 234,026 shares of the company’s stock valued at $1,252,000 after purchasing an additional 104,707 shares during the period. U S Global Investors Inc. grew its position in Frontier Group by 71.4% during the 3rd quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock worth $40,473,000 after purchasing an additional 3,150,768 shares during the period. Victory Capital Management Inc. purchased a new stake in Frontier Group in the 3rd quarter worth approximately $54,000. Finally, AlTi Global Inc. purchased a new position in shares of Frontier Group during the 2nd quarter valued at approximately $21,222,000.

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.