Frontier Group (NASDAQ:ULCC) Trading Up 13.1% - Time to Buy?

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ULCC shares. Citigroup reduced their price objective on Frontier Group from $7.25 to $4.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. UBS Group reduced their price objective on Frontier Group from $7.00 to $4.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Susquehanna reduced their price objective on Frontier Group from $9.00 to $3.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Deutsche Bank Aktiengesellschaft lowered Frontier Group from a "buy" rating to a "hold" rating and dropped their target price for the company from $12.00 to $8.00 in a report on Tuesday, March 4th. Finally, Barclays dropped their target price on Frontier Group from $14.00 to $10.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. One research 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. Based on data from MarketBeat, Frontier Group has a consensus rating of "Hold" and an average target price of $6.11.

Frontier Group Stock Up 7.9%

The stock has a fifty day moving average of $4.32 and a 200 day moving average of $6.22. The firm has a market capitalization of $953.20 million, a P/E ratio of 11.63 and a beta of 2.55. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.48.

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

Insider Buying and Selling

In other Frontier Group news, SVP Alexandre Clerc sold 15,152 shares of the business's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $6.63, for a total value of $100,457.76. Following the sale, the senior vice president now directly owns 23,912 shares in the company, valued at $158,536.56. The trade was a 38.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Howard Diamond sold 87,830 shares of the business's stock in a transaction 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 owns 175,886 shares in the company, 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. 48.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Frontier Group

Several hedge funds have recently made changes to their positions in ULCC. Voloridge Investment Management LLC raised its stake in shares of Frontier Group by 835.6% in the fourth quarter. Voloridge Investment Management LLC now owns 1,702,008 shares of the company's stock valued at $12,101,000 after buying an additional 1,520,094 shares during the period. Highland Peak Capital LLC bought a new stake in shares of Frontier Group in the fourth quarter valued at $6,492,000. Two Sigma Investments LP raised its stake in shares of Frontier Group by 488.9% in the fourth quarter. Two Sigma Investments LP now owns 980,426 shares of the company's stock valued at $6,971,000 after buying an additional 813,929 shares during the period. Empyrean Capital Partners LP bought a new stake in shares of Frontier Group in the fourth quarter valued at $4,977,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Frontier Group by 247.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 926,093 shares of the company's stock valued at $6,585,000 after buying an additional 659,811 shares during the period.

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.

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