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

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

Analyst Ratings Changes

A number of equities analysts have weighed in on ULCC shares. Susquehanna decreased their price target on 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 upped their target price on shares of Frontier Group from $7.00 to $10.00 and gave the company an "equal weight" rating in a research note on Monday, February 24th. Barclays dropped their price target on shares of Frontier Group from $14.00 to $10.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. UBS Group decreased their price objective 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. Finally, Deutsche Bank Aktiengesellschaft lowered Frontier Group from a "buy" rating to a "hold" rating and dropped their target price for the stock from $12.00 to $8.00 in a research report on Tuesday, March 4th. 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. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $6.11.

Frontier Group Stock Performance

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 company has a fifty day moving average of $4.32 and a two-hundred day moving average of $6.22. The stock has a market capitalization of $883.73 million, a P/E ratio of 10.78 and a beta of 2.55.

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

Insider Transactions at Frontier Group

In related news, SVP Alexandre Clerc sold 15,152 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $6.63, for a total transaction of $100,457.76. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Howard Diamond sold 87,830 shares of Frontier Group 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 transaction, the executive vice president now owns 175,886 shares of the company's stock, valued at approximately $1,542,520.22. The trade was a 33.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 48.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG boosted its holdings in shares of Frontier Group by 2,201.8% during the first quarter. Deutsche Bank AG now owns 585,888 shares of the company's stock valued at $2,543,000 after acquiring an additional 560,434 shares during the period. Primecap Management Co. CA lifted its position in Frontier Group by 13.0% in the 1st quarter. Primecap Management Co. CA now owns 434,300 shares of the company's stock valued at $1,885,000 after purchasing an additional 50,000 shares during the last quarter. XTX Topco Ltd boosted its stake in Frontier Group by 69.0% during the 1st quarter. XTX Topco Ltd now owns 30,676 shares of the company's stock valued at $133,000 after purchasing an additional 12,528 shares during the period. Kapitalo Investimentos Ltda bought a new position in Frontier Group in the 1st quarter worth about $77,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Frontier Group in the first quarter valued at approximately $76,000.

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.