Frontier Group (NASDAQ:ULCC) Shares Up 5.6% – Here’s Why

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s share price traded up 5.6% during mid-day trading on Wednesday . The company traded as high as $8.18 and last traded at $8.22. 487,149 shares were traded during mid-day trading, a decline of 79% from the average session volume of 2,269,278 shares. The stock had previously closed at $7.78.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Citigroup boosted their target price on Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Morgan Stanley cut their price objective on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Evercore ISI raised their target price on shares of Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. UBS Group boosted their price target on shares of Frontier Group from $6.00 to $8.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded Frontier Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $6.00 to $8.00 in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.96.

Frontier Group Stock Performance

The company has a market capitalization of $1.84 billion, a P/E ratio of -204.47 and a beta of 2.32. The stock’s fifty day moving average price is $7.02 and its 200-day moving average price is $5.55. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.48 and a current ratio of 0.53.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The business had revenue of $935.00 million during the quarter, compared to analysts’ expectations of $943.30 million. During the same quarter in the previous year, the business posted ($0.14) earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. As a group, research analysts anticipate that Frontier Group Holdings, Inc. will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Barry Biffle sold 273,000 shares of Frontier Group stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $8.44, for a total transaction of $2,304,120.00. Following the completion of the sale, the chief executive officer now owns 816,817 shares of the company’s stock, valued at approximately $6,893,935.48. The trade was a 25.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Josh T. Connor sold 30,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total transaction of $172,200.00. Following the completion of the transaction, the director now owns 326,550 shares in the company, valued at approximately $1,874,397. This trade represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 788,000 shares of company stock valued at $6,214,070. 81.50% of the stock is owned by insiders.

Institutional Trading of Frontier Group

Several hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Frontier Group by 38.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock worth $8,512,000 after buying an additional 441,001 shares during the period. Algert Global LLC grew its stake in shares of Frontier Group by 80.2% in the third quarter. Algert Global LLC now owns 451,508 shares of the company’s stock valued at $2,416,000 after acquiring an additional 200,885 shares in the last quarter. Creative Planning increased its position in Frontier Group by 81.0% during the third quarter. Creative Planning now owns 234,026 shares of the company’s stock worth $1,252,000 after acquiring an additional 104,707 shares during the period. U S Global Investors Inc. raised its stake in Frontier Group by 71.4% in the 3rd quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock worth $40,473,000 after purchasing an additional 3,150,768 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new stake in Frontier Group in the 3rd quarter valued at about $54,000.

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.