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

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

Specifically, SVP Alexandre Clerc sold 12,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $3.89, for a total transaction of $46,680.00. Following the transaction, the senior vice president now owns 11,912 shares in the company, valued at approximately $46,337.68. This represents a 50.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analyst Ratings Changes

Several research firms have issued reports on ULCC. Susquehanna cut their price target on shares of Frontier Group from $9.00 to $3.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Deutsche Bank Aktiengesellschaft downgraded shares of Frontier Group from a "buy" rating to a "hold" rating and reduced their price target for the company from $12.00 to $8.00 in a research report on Tuesday, March 4th. Barclays cut their target price on shares of Frontier Group from $14.00 to $10.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Morgan Stanley lowered their target price 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, Evercore ISI reduced their price target on shares of Frontier Group from $7.00 to $5.00 and set an "in-line" rating on the stock in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $6.00.

Frontier Group Price Performance

The firm has a market cap of $913.34 million, a price-to-earnings ratio of 11.14 and a beta of 2.67. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.48. The stock's fifty day moving average price is $3.65 and its 200-day moving average price is $5.90.

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

Institutional Investors Weigh In On Frontier Group

A number of hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers boosted its holdings in Frontier Group by 4.4% during the 4th quarter. Rhumbline Advisers now owns 55,354 shares of the company's stock worth $394,000 after acquiring an additional 2,334 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Frontier Group by 32.7% in the fourth quarter. Bank of New York Mellon Corp now owns 138,739 shares of the company's stock worth $986,000 after acquiring an additional 34,192 shares during the period. SBI Securities Co. Ltd. purchased a new position in Frontier Group during the fourth quarter valued at $96,000. Aigen Investment Management LP purchased a new position in Frontier Group during the fourth quarter valued at $96,000. Finally, Highland Peak Capital LLC bought a new position in shares of Frontier Group during the fourth quarter valued at $6,492,000.

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.