Frontier Group (NASDAQ:ULCC) Trading 6.5% Higher – What’s Next?

by · The Cerbat Gem

Frontier Group Holdings, Inc. (NASDAQ:ULCC – Get Free Report) shares traded up 6.5% on Wednesday . The stock traded as high as $6.60 and last traded at $6.40. 688,566 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 2,133,323 shares. The stock had previously closed at $6.01.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Morgan Stanley decreased their price target 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. TD Cowen raised their price objective on shares of Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft upgraded shares of 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 research report on Wednesday. Bank of America decreased their price objective on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Finally, Barclays raised their price objective on shares of Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.62.

Read Our Latest Analysis on ULCC

Frontier Group Price Performance

The firm’s fifty day moving average price is $6.10 and its 200 day moving average price is $4.93. The firm has a market capitalization of $1.46 billion, a PE ratio of -160.00 and a beta of 2.43. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.57.

Frontier Group (NASDAQ:ULCC – Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The firm had revenue of $935.00 million for the quarter, compared to analyst estimates of $943.30 million. During the same quarter in the prior year, the business earned ($0.14) earnings per share. Frontier Group’s revenue was up 5.9% on a year-over-year basis. As a group, equities analysts forecast that Frontier Group Holdings, Inc. will post 0.04 earnings per share for the current year.

Insider Activity at Frontier Group

In other news, Director Josh T. Connor sold 30,000 shares of Frontier Group stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total value of $172,200.00. Following the sale, the director now directly owns 326,550 shares of the company’s stock, valued at $1,874,397. The trade was a 8.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Steve Schuller sold 10,000 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $6.00, for a total value of $60,000.00. Following the completion of the transaction, the senior vice president now directly owns 34,035 shares of the company’s stock, valued at approximately $204,210. This represents a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 81.50% of the company’s stock.

Institutional Investors Weigh In On Frontier Group

A number of hedge funds have recently modified their holdings of the business. Algert Global LLC lifted its stake in Frontier Group by 80.2% in the 3rd quarter. Algert Global LLC now owns 451,508 shares of the company’s stock worth $2,416,000 after purchasing an additional 200,885 shares in the last quarter. Creative Planning raised its holdings in shares of Frontier Group by 81.0% during the 3rd 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. grew its holdings in shares of Frontier Group by 71.4% in the third quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock valued at $40,473,000 after purchasing an additional 3,150,768 shares during the period. Victory Capital Management Inc. acquired a new stake in Frontier Group during the third quarter worth about $54,000. Finally, AlTi Global Inc. purchased a new stake in shares of Frontier Group in the 2nd quarter valued at approximately $21,222,000.

Frontier Group Company Profile

(Get Free Report)

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.

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