Frontier Group (NASDAQ:ULCC) Shares Up 13.1% - Here's What Happened

Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) was up 13.1% on Monday . The company traded as high as $4.50 and last traded at $4.39. Approximately 1,122,052 shares changed hands during trading, a decline of 58% from the average daily volume of 2,668,177 shares. The stock had previously closed at $3.88.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Citigroup dropped 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. Morgan Stanley lifted their target price on shares of Frontier Group from $7.00 to $10.00 and gave the stock an "equal weight" rating in a research report on Monday, February 24th. Evercore ISI dropped their price target on Frontier Group from $7.00 to $5.00 and set an "in-line" rating on the stock in a research report on Friday, April 11th. Barclays cut their price objective 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. Finally, UBS Group cut their price objective on Frontier Group from $7.00 to $4.00 and set a "neutral" rating for the company in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $6.11.

Frontier Group Stock Up 2.0%

The company's fifty day simple moving average is $4.10 and its 200 day simple moving average is $6.13. The firm has a market capitalization of $949.78 million, a P/E ratio of 11.58 and a beta of 2.55. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45.

Frontier Group (NASDAQ:ULCC - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping 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 analysts' expectations of $996.05 million. During the same quarter in the prior year, the company earned ($0.09) earnings per share. The business's revenue was up 5.4% compared to the same quarter last year. Research analysts expect that Frontier Group Holdings, Inc. will post 0.91 EPS for the current year.

Insider Buying and Selling

In other news, EVP Howard Diamond sold 87,830 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $8.77, for a total transaction of $770,269.10. Following the completion of the sale, the executive vice president now owns 175,886 shares of the company's stock, valued at $1,542,520.22. This represents a 33.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Alexandre Clerc sold 15,152 shares of Frontier Group stock in a transaction on Friday, March 7th. The shares were sold at an average price of $6.63, for a total value 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 trade represents a 38.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 48.00% of the stock is owned by company insiders.

Institutional Trading of Frontier Group

Several hedge funds have recently made changes to their positions in ULCC. Price T Rowe Associates Inc. MD increased its position in shares of Frontier Group by 8.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,442 shares of the company's stock worth $217,000 after acquiring an additional 2,296 shares during the period. Rhumbline Advisers increased its position in shares of Frontier Group by 4.4% in the 4th quarter. Rhumbline Advisers now owns 55,354 shares of the company's stock valued at $394,000 after acquiring an additional 2,334 shares during the period. Voleon Capital Management LP grew its stake in Frontier Group by 9.4% during the 1st quarter. Voleon Capital Management LP now owns 38,692 shares of the company's stock valued at $168,000 after purchasing an additional 3,335 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Frontier Group in the 4th quarter valued at $32,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Frontier Group by 8.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,359 shares of the company's stock valued at $536,000 after buying an additional 5,834 shares during the period.

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.