Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $4.01, but opened at $4.23. Frontier Group shares last traded at $4.38, with a volume of 1,748,252 shares.
Wall Street Analyst Weigh In
Several research firms recently weighed in on ULCC. Citigroup reduced 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. Bank of America reduced their price objective on shares of Frontier Group from $4.75 to $4.00 and set a "neutral" rating for the company in a report on Tuesday, July 1st. Susquehanna reduced their price objective on shares of Frontier Group from $9.00 to $3.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Morgan Stanley cut their price target on shares of Frontier Group from $10.00 to $9.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. Finally, UBS Group set a $4.00 price target on shares of Frontier Group and gave the company a "neutral" rating in a report on Monday, July 7th. One investment 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.com, the company presently has a consensus rating of "Hold" and a consensus price target of $5.67.
Check Out Our Latest Analysis on ULCC
Frontier Group Stock Down 4.6%
The company has a market cap of $947.50 million, a price-to-earnings ratio of 14.34 and a beta of 2.60. The company has a current ratio of 0.49, a quick ratio of 0.45 and a debt-to-equity ratio of 0.48. The business has a fifty day moving average price of $3.86 and a two-hundred day moving average price of $5.47.
Frontier Group (NASDAQ:ULCC - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, topping analysts' consensus estimates of ($0.22) by $0.03. Frontier Group had a return on equity of 5.53% and a net margin of 1.78%. The firm had revenue of $912.00 million for the quarter, compared to the consensus estimate of $996.05 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. The firm's revenue was up 5.4% on a year-over-year basis. On average, equities analysts predict that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current year.
Insider Buying and Selling
In related news, SVP Alexandre Clerc sold 12,000 shares of the 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 transaction, the senior vice president owned 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 48.00% of the company's stock.
Hedge Funds Weigh In On Frontier Group
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Frontier Group by 0.3% in the fourth 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. Balyasny Asset Management L.P. lifted its position in Frontier Group by 31.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,396,885 shares of the company's stock worth $17,042,000 after purchasing an additional 578,151 shares during the period. Towle & Co. lifted its position in Frontier Group by 6.1% in the fourth quarter. Towle & Co. now owns 2,348,882 shares of the company's stock worth $16,701,000 after purchasing an additional 134,723 shares during the period. Voloridge Investment Management LLC lifted its position in Frontier Group by 835.6% in the fourth quarter. Voloridge Investment Management LLC now owns 1,702,008 shares of the company's stock worth $12,101,000 after purchasing an additional 1,520,094 shares during the period. Finally, Geode Capital Management LLC lifted its position in Frontier Group by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,625,953 shares of the company's stock worth $11,564,000 after purchasing an additional 35,355 shares during the period.
About Frontier Group
(
Get Free Report)
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.
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