Frontier Group (NASDAQ:ULCC) Shares Gap Up to $6.50

Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $6.50, but opened at $6.69. Frontier Group shares last traded at $6.91, with a volume of 120,587 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Bank of America reaffirmed a "neutral" rating and issued a $6.00 target price (down from $8.00) on shares of Frontier Group in a report on Tuesday, January 9th. Susquehanna upped their target price on shares of Frontier Group from $5.00 to $7.00 and gave the company a "neutral" rating in a report on Friday, February 9th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $8.00 target price (down from $10.00) on shares of Frontier Group in a report on Monday, January 8th. Evercore ISI upped their target price on shares of Frontier Group from $7.00 to $8.50 and gave the company an "in-line" rating in a report on Thursday, April 4th. Finally, UBS Group assumed coverage on shares of Frontier Group in a report on Wednesday, March 20th. They issued a "neutral" rating and a $8.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $7.78.

Frontier Group Stock Performance

The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -115.00 and a beta of 2.57. The stock's 50 day moving average is $7.38 and its 200 day moving average is $5.58. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.50.

Insiders Place Their Bets

In other Frontier Group news, CEO Barry Biffle sold 14,500 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 63,949 shares in the company, valued at approximately $461,072.29. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 83.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ULCC. Advisor Group Holdings Inc. grew its position in shares of Frontier Group by 1,838.1% during the 1st quarter. Advisor Group Holdings Inc. now owns 10,214 shares of the company's stock worth $115,000 after purchasing an additional 9,687 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Frontier Group by 7.7% during the 1st quarter. Swiss National Bank now owns 102,100 shares of the company's stock worth $1,157,000 after acquiring an additional 7,300 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Frontier Group by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 23,388 shares of the company's stock worth $265,000 after acquiring an additional 8,632 shares during the period. Rhumbline Advisers lifted its holdings in shares of Frontier Group by 21.0% during the 1st quarter. Rhumbline Advisers now owns 35,611 shares of the company's stock worth $403,000 after acquiring an additional 6,192 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Frontier Group by 5.3% during the 1st quarter. BlackRock Inc. now owns 2,367,731 shares of the company's stock worth $26,828,000 after acquiring an additional 120,090 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.