Frontier Group (NASDAQ:ULCC) Shares Down 4.3%

Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) shares were down 4.3% during trading on Wednesday . The company traded as low as $6.38 and last traded at $6.43. Approximately 262,125 shares were traded during trading, a decline of 89% from the average daily volume of 2,309,719 shares. The stock had previously closed at $6.72.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ULCC shares. UBS Group started coverage on Frontier Group in a report on Wednesday, March 20th. They set a "neutral" rating and a $8.00 price objective for the company. 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 note on Thursday, April 4th. Barclays boosted their target price on Frontier Group from $7.00 to $9.00 and gave the stock an "overweight" rating in a research note on Friday, April 5th. Susquehanna boosted 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. Finally, Morgan Stanley restated an "equal weight" rating and issued a $8.00 target price (down previously from $10.00) on shares of Frontier Group in a research note on Monday, January 8th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Frontier Group presently has a consensus rating of "Hold" and a consensus target price of $7.78.

Frontier Group Trading Down 5.4 %

The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $7.30 and a 200 day moving average of $5.66. The firm has a market cap of $1.42 billion, a PE ratio of -106.00 and a beta of 2.57.

Insider Activity at Frontier Group

In related news, CEO Barry Biffle sold 151,620 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $7.72, for a total value of $1,170,506.40. Following the transaction, the chief executive officer now owns 772,981 shares in the company, valued at $5,967,413.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 81.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Frontier Group

A number of hedge funds and other institutional investors have recently bought and sold shares of ULCC. U S Global Investors Inc. raised its holdings in Frontier Group by 46.0% during the 4th quarter. U S Global Investors Inc. now owns 10,483,645 shares of the company's stock valued at $57,241,000 after acquiring an additional 3,305,465 shares during the period. Ancient Art L.P. raised its holdings in Frontier Group by 52.3% during the 3rd quarter. Ancient Art L.P. now owns 7,961,321 shares of the company's stock valued at $38,533,000 after acquiring an additional 2,734,104 shares during the period. First Dallas Securities Inc. raised its holdings in Frontier Group by 985.8% during the 3rd quarter. First Dallas Securities Inc. now owns 952,746 shares of the company's stock valued at $4,611,000 after acquiring an additional 864,996 shares during the period. Russell Investments Group Ltd. raised its holdings in Frontier Group by 215.0% during the 4th quarter. Russell Investments Group Ltd. now owns 994,874 shares of the company's stock valued at $5,432,000 after acquiring an additional 679,075 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Frontier Group by 20.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,821,012 shares of the company's stock valued at $18,494,000 after acquiring an additional 636,921 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.