Frontier Group (NASDAQ:ULCC) Shares Up 7.3% - Here's Why

Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) shares traded up 7.3% during mid-day trading on Monday . The stock traded as high as $3.68 and last traded at $3.60. 924,142 shares changed hands during trading, a decline of 65% from the average session volume of 2,613,478 shares. The stock had previously closed at $3.36.

Analysts Set New Price Targets

Several research firms have recently commented on ULCC. UBS Group lowered their price target on shares of Frontier Group from $7.00 to $4.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Susquehanna dropped their price target on shares of Frontier Group from $9.00 to $3.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Deutsche Bank Aktiengesellschaft downgraded Frontier Group from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $12.00 to $8.00 in a research report on Tuesday, March 4th. Barclays decreased their price target on Frontier Group from $14.00 to $10.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Bank of America lowered their target price on Frontier Group from $10.00 to $7.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $6.11.

Frontier Group Stock Performance

The stock has a market capitalization of $811.67 million, a PE ratio of 9.93 and a beta of 2.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.48 and a current ratio of 0.53. The firm has a 50 day moving average of $4.67 and a 200-day moving average of $6.33.

Frontier Group (NASDAQ:ULCC - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) 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 firm had revenue of $912.00 million for the quarter, compared to the consensus estimate of $996.05 million. During the same period in the previous year, the firm posted ($0.09) earnings per share. The firm's revenue was up 5.4% on a year-over-year basis. Research analysts forecast that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current year.

Insider Activity at Frontier Group

In other Frontier Group news, EVP Howard Diamond sold 87,830 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $8.77, for a total value of $770,269.10. Following the completion of the sale, the executive vice president now directly owns 175,886 shares of the company's stock, valued at $1,542,520.22. The trade was a 33.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Alexandre Clerc sold 15,152 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $6.63, for a total transaction of $100,457.76. Following the transaction, the senior vice president now owns 23,912 shares in the company, valued at $158,536.56. This represents a 38.79 % decrease in their position. The disclosure for this sale can be found here. Insiders own 48.00% of the company's stock.

Hedge Funds Weigh In On Frontier Group

Institutional investors have recently modified their holdings of the company. R Squared Ltd bought a new stake in Frontier Group during the fourth quarter valued at about $32,000. Byrne Asset Management LLC acquired a new position in shares of Frontier Group during the 1st quarter worth about $35,000. KLP Kapitalforvaltning AS bought a new stake in Frontier Group during the 4th quarter valued at approximately $50,000. Nisa Investment Advisors LLC grew its holdings in Frontier Group by 1,230.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company's stock valued at $57,000 after buying an additional 7,380 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of Frontier Group during the first quarter worth approximately $76,000.

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.

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