Frontier Group (NASDAQ:ULCC) Trading Down 4.3%

Frontier Group Holdings, Inc. (NASDAQ:ULCC) dropped 4.3% during trading on Wednesday . The company traded as low as $6.38 and last traded at $6.43. Approximately 262,125 shares traded hands during mid-day 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

ULCC has been the topic of a number of recent analyst reports. Susquehanna boosted their price target on shares of Frontier Group from $5.00 to $7.00 and gave the company a “neutral” rating in a report on Friday, February 9th. TD Cowen upped their price objective on shares of Frontier Group from $5.00 to $12.00 and gave the company a “market perform” rating in a research note on Wednesday, February 7th. Evercore ISI upped their price objective on shares of Frontier Group from $7.00 to $8.50 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Bank of America reiterated a “neutral” rating and issued a $6.00 price objective (down previously from $8.00) on shares of Frontier Group in a research note on Tuesday, January 9th. Finally, Barclays upped their price objective on shares of Frontier Group from $7.00 to $9.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $7.78.

Frontier Group Trading Down 5.1 %

The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.50. The company’s fifty day moving average is $7.33 and its 200-day moving average is $5.65. The firm has a market capitalization of $1.43 billion, a P/E ratio of -105.67 and a beta of 2.57.

Insider Buying and Selling

In related news, CEO Barry Biffle sold 151,620 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $7.72, for a total transaction of $1,170,506.40. Following the completion of the sale, the chief executive officer now directly owns 772,981 shares of the company’s stock, valued at approximately $5,967,413.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 81.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Frontier Group

Large investors have recently bought and sold shares of the stock. Signaturefd LLC bought a new position in shares of Frontier Group in the 3rd quarter valued at about $28,000. PNC Financial Services Group Inc. boosted its stake in shares of Frontier Group by 632.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,768 shares of the company’s stock valued at $28,000 after purchasing an additional 4,980 shares during the last quarter. CWM LLC boosted its stake in shares of Frontier Group by 1,705.7% in the 3rd quarter. CWM LLC now owns 6,627 shares of the company’s stock valued at $32,000 after purchasing an additional 6,260 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of Frontier Group in the 3rd quarter valued at approximately $58,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Frontier Group in the 4th quarter valued at approximately $59,000.

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.