Frontier Group (NASDAQ:ULCC) Trading 4.9% Higher on Analyst Upgrade

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) were up 4.9% during mid-day trading on Monday after Barclays raised their price target on the stock from $7.00 to $9.00. Barclays currently has an overweight rating on the stock. Frontier Group traded as high as $7.52 and last traded at $7.48. Approximately 300,351 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 2,466,217 shares. The stock had previously closed at $7.13.

ULCC has been the topic of a number of other research reports. Morgan Stanley restated an "equal weight" rating and set a $8.00 target price (down previously from $10.00) on shares of Frontier Group in a research report on Monday, January 8th. Bank of America restated a "neutral" rating and set a $6.00 target price (down previously from $8.00) on shares of Frontier Group in a research report on Tuesday, January 9th. Evercore ISI increased their target price 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. UBS Group started coverage on shares of Frontier Group in a research report on Wednesday, March 20th. They set a "neutral" rating and a $8.00 target price on the stock. Finally, Susquehanna increased their target price on shares of Frontier Group from $5.00 to $7.00 and gave the stock a "neutral" rating in a research report on Friday, February 9th. 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, the stock has an average rating of "Hold" and an average price target of $7.78.

Insider Activity at Frontier Group

In related news, CEO Barry Biffle sold 151,620 shares of the 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 of the company's stock, valued at approximately $5,967,413.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 83.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Frontier Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in ULCC. Advisor Group Holdings Inc. raised its stake in shares of Frontier Group by 1,838.1% during the first quarter. Advisor Group Holdings Inc. now owns 10,214 shares of the company's stock valued at $115,000 after acquiring an additional 9,687 shares during the last quarter. Swiss National Bank raised its stake in shares of Frontier Group by 7.7% during the first quarter. Swiss National Bank now owns 102,100 shares of the company's stock valued at $1,157,000 after acquiring an additional 7,300 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of Frontier Group by 58.5% during the first quarter. MetLife Investment Management LLC now owns 23,388 shares of the company's stock valued at $265,000 after acquiring an additional 8,632 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Frontier Group by 21.0% during the first quarter. Rhumbline Advisers now owns 35,611 shares of the company's stock valued at $403,000 after acquiring an additional 6,192 shares during the last quarter. Finally, BlackRock Inc. raised its stake in shares of Frontier Group by 5.3% during the first quarter. BlackRock Inc. now owns 2,367,731 shares of the company's stock valued at $26,828,000 after acquiring an additional 120,090 shares during the last quarter.

Frontier Group Price Performance

The company's 50 day moving average price is $7.15 and its 200-day moving average price is $5.46. The stock has a market cap of $1.65 billion, a P/E ratio of -124.17 and a beta of 2.57. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.50.

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.