Frontier Group (NASDAQ:ULCC) Trading Up 4.8% – Here’s Why

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s share price rose 4.8% during trading on Thursday . The stock traded as high as $6.42 and last traded at $6.38. Approximately 1,249,131 shares were traded during trading, a decline of 42% from the average daily volume of 2,167,064 shares. The stock had previously closed at $6.09.

Analysts Set New Price Targets

A number of brokerages have recently commented on ULCC. TD Cowen raised their price objective on shares of Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Monday, September 16th. UBS Group assumed coverage on Frontier Group in a report on Tuesday, November 26th. They issued a “neutral” rating and a $6.00 price objective on the stock. Raymond James upgraded Frontier Group from an “underperform” rating to a “market perform” rating in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft raised shares of Frontier Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $6.00 to $8.00 in a report on Wednesday, December 11th. Finally, Evercore ISI lifted 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. 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 stock presently has a consensus rating of “Hold” and an average price target of $6.46.

Frontier Group Stock Up 5.6 %

The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -160.71 and a beta of 2.43. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average is $6.21 and its two-hundred day moving average is $4.98.

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

Insider Transactions at Frontier Group

In other Frontier Group news, Director Josh T. Connor sold 30,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total transaction of $172,200.00. Following the completion of the sale, the director now owns 326,550 shares of the company’s stock, valued at $1,874,397. This trade represents a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Steve Schuller sold 10,000 shares of the company’s 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 in the company, valued at approximately $204,210. This trade represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 81.50% of the company’s stock.

Institutional Investors Weigh In On Frontier Group

Institutional investors have recently made changes to their positions in the stock. U S Global Investors Inc. boosted its position in shares of Frontier Group by 71.4% during 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 during the period. AlTi Global Inc. acquired a new stake in shares of Frontier Group in the second quarter valued at $21,222,000. Geode Capital Management LLC grew its stake in shares of Frontier Group by 38.4% in the third quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after buying an additional 441,001 shares in the last quarter. Verition Fund Management LLC lifted its stake in Frontier Group by 235.7% during the 3rd quarter. Verition Fund Management LLC now owns 646,243 shares of the company’s stock worth $3,457,000 after acquiring an additional 453,736 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Frontier Group by 81.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock valued at $3,205,000 after acquiring an additional 269,221 shares during the period.

About Frontier Group

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.