Frontier Group (NASDAQ:ULCC) Stock Price Down 4% - Here's What Happened

Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report)'s stock price was down 4% during trading on Friday . The company traded as low as $4.22 and last traded at $4.19. Approximately 293,955 shares were traded during trading, a decline of 90% from the average daily volume of 3,004,511 shares. The stock had previously closed at $4.36.

Analyst Ratings Changes

ULCC has been the subject of several analyst reports. Citigroup cut their price objective on shares of Frontier Group from $7.25 to $4.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Morgan Stanley cut their price target on Frontier Group from $10.00 to $9.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Barclays lowered their price objective on Frontier Group from $14.00 to $10.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. UBS Group set a $4.00 target price on Frontier Group and gave the stock a "neutral" rating in a report on Monday, July 7th. Finally, Evercore ISI dropped their price target on Frontier Group from $7.00 to $5.00 and set an "in-line" rating for the company in a research note on Friday, April 11th. 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's stock. According to data from MarketBeat, Frontier Group has an average rating of "Hold" and an average price target of $5.67.

Frontier Group Price Performance

The business's fifty day moving average price is $3.87 and its 200 day moving average price is $5.45. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.49 and a quick ratio of 0.45. The stock has a market cap of $945.22 million, a P/E ratio of 14.31 and a beta of 2.60.

Frontier Group (NASDAQ:ULCC - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.22) by $0.03. The business had revenue of $912.00 million during the quarter, compared to analysts' expectations of $996.05 million. Frontier Group had a net margin of 1.78% and a return on equity of 5.53%. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.09) EPS. Sell-side analysts forecast that Frontier Group Holdings, Inc. will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Alexandre Clerc sold 12,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $3.89, for a total value of $46,680.00. Following the completion of the transaction, the senior vice president owned 11,912 shares of the company's stock, valued at $46,337.68. This represents a 50.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 48.00% of the company's stock.

Hedge Funds Weigh In On Frontier Group

A number of hedge funds have recently modified their holdings of the business. Voloridge Investment Management LLC lifted its holdings in Frontier Group by 835.6% during the 4th quarter. Voloridge Investment Management LLC now owns 1,702,008 shares of the company's stock worth $12,101,000 after buying an additional 1,520,094 shares during the period. Silver Point Capital L.P. bought a new position in shares of Frontier Group during the first quarter worth about $3,906,000. Two Sigma Investments LP lifted its stake in shares of Frontier Group by 488.9% in the fourth quarter. Two Sigma Investments LP now owns 980,426 shares of the company's stock worth $6,971,000 after acquiring an additional 813,929 shares during the period. American Century Companies Inc. lifted its stake in shares of Frontier Group by 1,353.6% in the first quarter. American Century Companies Inc. now owns 774,988 shares of the company's stock worth $3,363,000 after acquiring an additional 721,674 shares during the period. Finally, Empyrean Capital Partners LP bought a new stake in Frontier Group in the fourth quarter valued at approximately $4,977,000.

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.