Frontier Group (NASDAQ:ULCC) Shares Up 4.2%

Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report)'s stock price rose 4.2% during trading on Tuesday . The stock traded as high as $7.53 and last traded at $7.49. Approximately 956,464 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 2,533,665 shares. The stock had previously closed at $7.19.

Wall Street Analyst Weigh In

ULCC has been the subject of several analyst reports. Bank of America restated a "neutral" rating and issued a $6.00 target price (down from $8.00) on shares of Frontier Group in a research report on Tuesday, January 9th. TD Cowen lifted their price target on shares of Frontier Group from $5.00 to $12.00 and gave the company a "market perform" rating in a report on Wednesday, February 7th. 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. Raymond James decreased their price target on shares of Frontier Group from $9.00 to $8.00 and set an "outperform" rating on the stock in a report on Tuesday, December 12th. Finally, Susquehanna lifted their price target 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. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Frontier Group has an average rating of "Hold" and an average price target of $7.65.

Frontier Group Stock Performance

The stock's 50 day moving average price is $7.04 and its 200 day moving average price is $5.42. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.48 and a current ratio of 0.53. The company has a market capitalization of $1.67 billion, a P/E ratio of -124.50 and a beta of 2.57.

Insider Activity

In related news, CEO Barry Biffle sold 151,620 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $7.72, for a total transaction of $1,170,506.40. Following the transaction, the chief executive officer now directly owns 772,981 shares of the company's stock, valued at $5,967,413.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 83.20% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Jump Financial LLC purchased a new stake in Frontier Group during the third quarter worth about $1,867,000. Boston Partners increased its stake in shares of Frontier Group by 65.5% in the third quarter. Boston Partners now owns 184,559 shares of the company's stock worth $893,000 after buying an additional 73,024 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Frontier Group by 29.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 435,166 shares of the company's stock worth $2,106,000 after buying an additional 98,852 shares during the period. Primecap Management Co. CA increased its position in Frontier Group by 13.3% during the 3rd quarter. Primecap Management Co. CA now owns 113,200 shares of the company's stock valued at $548,000 after purchasing an additional 13,300 shares during the period. Finally, Wealthsource Partners LLC increased its position in Frontier Group by 20.3% during the 4th quarter. Wealthsource Partners LLC now owns 113,711 shares of the company's stock valued at $621,000 after purchasing an additional 19,213 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.