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

Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) shares were down 4% on Friday . The stock 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.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ULCC shares. Bank of America lowered their target price on shares of Frontier Group from $4.75 to $4.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 1st. Susquehanna lowered their target price on shares of Frontier Group from $9.00 to $3.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Barclays lowered their target price on shares of Frontier Group from $14.00 to $10.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley reduced their price objective on shares of Frontier Group from $10.00 to $9.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Finally, Citigroup reduced their price objective on shares of Frontier Group from $7.25 to $4.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $5.67.

Frontier Group Stock Down 4.6%

The firm's 50-day moving average price is $3.86 and its 200-day moving average price is $5.49. The company has a market cap of $947.48 million, a price-to-earnings ratio of 14.34 and a beta of 2.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.49 and a quick ratio of 0.45.

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 the consensus estimate of ($0.22) by $0.03. The company had revenue of $912.00 million during the quarter, compared to analyst estimates of $996.05 million. Frontier Group had a net margin of 1.78% and a return on equity of 5.53%. The business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.09) earnings per share. Sell-side analysts forecast that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Alexandre Clerc sold 12,000 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $3.89, for a total transaction of $46,680.00. Following the completion of the sale, the senior vice president directly owned 11,912 shares of the company's stock, valued at approximately $46,337.68. This trade represents a 50.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 48.00% of the company's stock.

Institutional Investors Weigh In On Frontier Group

Large investors have recently added to or reduced their stakes in the company. Byrne Asset Management LLC acquired a new stake in Frontier Group during the 1st quarter valued at $35,000. Baron Wealth Management LLC acquired a new position in Frontier Group during the 2nd quarter worth $37,000. KLP Kapitalforvaltning AS acquired a new position in Frontier Group during the 4th quarter worth $50,000. Victory Capital Management Inc. acquired a new position in Frontier Group during the 1st quarter worth $76,000. Finally, Kapitalo Investimentos Ltda acquired a new position in Frontier Group during the 1st quarter worth $77,000.

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.