Frontier Group (NASDAQ:ULCC) Shares Gap Down to $7.11

Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $7.11, but opened at $6.90. Frontier Group shares last traded at $6.93, with a volume of 331,692 shares traded.

Analyst Ratings Changes

Several analysts recently commented on ULCC shares. TD Cowen increased their price objective on shares of Frontier Group from $5.00 to $12.00 and gave the company a "market perform" rating in a research report on Wednesday, February 7th. Barclays boosted their price objective on shares of Frontier Group from $7.00 to $9.00 and gave the stock an "overweight" rating in a report on Friday, April 5th. UBS Group began coverage on Frontier Group in a report on Wednesday, March 20th. They issued a "neutral" rating and a $8.00 target price for the company. Morgan Stanley reaffirmed an "equal weight" rating and set a $8.00 price target (down from $10.00) on shares of Frontier Group in a report on Monday, January 8th. Finally, Evercore ISI boosted their target price on Frontier Group from $7.00 to $8.50 and gave the stock an "in-line" rating in a research report on Thursday, April 4th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $7.78.

Frontier Group Trading Down 5.5 %

The company has a market cap of $1.50 billion, a PE ratio of -112.33 and a beta of 2.57. The stock's 50 day moving average is $7.34 and its 200-day moving average is $5.64. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.50.

Insider Activity

In other Frontier Group news, CEO Barry Biffle sold 14,500 shares of Frontier Group stock in a transaction on Monday, February 26th. The shares were sold at an average price of $7.21, for a total transaction of $104,545.00. Following the completion of the transaction, the chief executive officer now directly owns 63,949 shares of the company's stock, valued at $461,072.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 81.50% of the company's stock.

Hedge Funds Weigh In On Frontier Group

Hedge funds have recently added to or reduced their stakes in the company. CWM LLC raised its holdings in shares of Frontier Group by 1,705.7% in the third quarter. CWM LLC now owns 6,627 shares of the company's stock worth $32,000 after buying an additional 6,260 shares during the period. U S Global Investors Inc. grew its holdings in shares of Frontier Group by 28.8% in the third quarter. U S Global Investors Inc. now owns 7,178,180 shares of the company's stock worth $34,742,000 after purchasing an additional 1,602,970 shares during the last quarter. Olympiad Research LP increased its stake in Frontier Group by 385.1% in the 3rd quarter. Olympiad Research LP now owns 66,184 shares of the company's stock worth $320,000 after buying an additional 52,540 shares during the period. Duality Advisers LP bought a new stake in Frontier Group during the 3rd quarter valued at about $120,000. Finally, Signaturefd LLC bought a new stake in Frontier Group during the 3rd quarter valued at about $28,000.

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.