Frontier Group (NASDAQ:ULCC) Shares Down 4.2% Following Insider Selling

Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) shares traded down 4.2% during trading on Thursday following insider selling activity. The stock traded as low as $3.82 and last traded at $3.80. 428,810 shares were traded during mid-day trading, a decline of 85% from the average session volume of 2,775,258 shares. The stock had previously closed at $3.96.

Specifically, SVP Alexandre Clerc sold 12,000 shares of the firm's stock in a transaction that occurred 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 now directly owns 11,912 shares in the company, valued at approximately $46,337.68. This trade represents a 50.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

Several research firms have recently issued reports on ULCC. Barclays dropped their price objective on shares of Frontier Group from $14.00 to $10.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Bank of America lowered their target price on shares of Frontier Group from $10.00 to $7.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Deutsche Bank Aktiengesellschaft downgraded shares of Frontier Group from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $12.00 to $8.00 in a research report on Tuesday, March 4th. Citigroup cut their price target on shares of Frontier Group from $7.25 to $4.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, Susquehanna dropped their price objective on shares of Frontier Group from $9.00 to $3.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, Frontier Group currently has an average rating of "Hold" and an average target price of $6.00.

Frontier Group Stock Performance

The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45. The business's 50 day simple moving average is $3.66 and its 200 day simple moving average is $5.90. The company has a market cap of $867.78 million, a P/E ratio of 10.58 and a beta of 2.67.

Frontier Group (NASDAQ:ULCC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.03. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. The company had revenue of $912.00 million during the quarter, compared to analyst estimates of $996.05 million. During the same period in the previous year, the firm earned ($0.09) earnings per share. Frontier Group's quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts predict that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Frontier Group

Large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its position in Frontier Group by 54.4% in the fourth quarter. Legal & General Group Plc now owns 49,832 shares of the company's stock valued at $354,000 after buying an additional 17,558 shares during the last quarter. Barclays PLC increased its stake in shares of Frontier Group by 12.1% in the 4th quarter. Barclays PLC now owns 81,710 shares of the company's stock worth $581,000 after acquiring an additional 8,844 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Frontier Group by 210.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 804,693 shares of the company's stock worth $5,721,000 after purchasing an additional 545,485 shares during the period. Vanguard Group Inc. grew its holdings in shares of Frontier Group by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 8,186,633 shares of the company's stock worth $58,207,000 after purchasing an additional 26,682 shares during the period. Finally, American Century Companies Inc. purchased a new position in Frontier Group during the 4th quarter valued at about $379,000.

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.