Frontier Group (NASDAQ:ULCC) Shares Gap Up to $5.84

Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $5.84, but opened at $6.64. Frontier Group shares last traded at $6.04, with a volume of 409,985 shares trading hands.

Analyst Upgrades and Downgrades

ULCC has been the subject of several research analyst reports. Morgan Stanley restated an "equal weight" rating and issued a $8.00 price objective (down from $10.00) on shares of Frontier Group in a research note on Monday, January 8th. Susquehanna upped their target price on Frontier Group from $5.00 to $7.00 and gave the stock a "neutral" rating in a research note on Friday, February 9th. Evercore ISI upped their price objective on shares of Frontier Group from $7.00 to $8.50 and gave the stock an "in-line" rating in a research report on Thursday, April 4th. UBS Group started coverage on Frontier Group in a research note on Wednesday, March 20th. They issued a "neutral" rating and a $8.00 price target for the company. Finally, Barclays increased their price objective on shares of Frontier Group from $7.00 to $9.00 and gave the company an "overweight" rating in a report on Friday, April 5th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $7.78.

Frontier Group Price Performance

The company's fifty day moving average is $7.14 and its two-hundred day moving average is $5.71. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -99.00 and a beta of 2.63. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.50.

Insider Buying and Selling

In related news, CEO Barry Biffle sold 151,620 shares of Frontier Group stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $7.72, for a total value of $1,170,506.40. Following the completion of the transaction, the chief executive officer now owns 772,981 shares in the company, valued at $5,967,413.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 81.50% of the company's stock.

Institutional Trading of Frontier Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capstone Investment Advisors LLC purchased a new position in Frontier Group in the first quarter valued at approximately $350,000. Norden Group LLC purchased a new position in shares of Frontier Group in the 1st quarter valued at $293,000. Simplicity Wealth LLC acquired a new stake in Frontier Group during the 1st quarter worth $204,000. Cruiser Capital Advisors LLC purchased a new stake in Frontier Group in the fourth quarter valued at $253,000. Finally, Jade Capital Advisors LLC boosted its stake in Frontier Group by 2,400.0% in the fourth quarter. Jade Capital Advisors LLC now owns 500,000 shares of the company's stock valued at $2,730,000 after acquiring an additional 480,000 shares in the last quarter.

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.