Frontier Group (NASDAQ:ULCC) Shares Gap Down Following Insider Selling

Frontier Group Holdings, Inc. (NASDAQ:ULCC) shares gapped down before the market opened on Tuesday after an insider sold shares in the company. The stock had previously closed at $6.36, but opened at $5.92. Frontier Group shares last traded at $5.8090, with a volume of 1,024,538 shares changing hands.

Specifically, SVP Steve Schuller sold 5,000 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $6.00, for a total value of $30,000.00. Following the sale, the senior vice president directly owned 94,926 shares in the company, valued at $569,556. This represents a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ULCC. Citigroup initiated coverage on Frontier Group in a research report on Thursday, December 4th. They set a “neutral” rating and a $5.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Frontier Group in a report on Monday, December 29th. UBS Group restated a “neutral” rating and issued a $6.00 price objective (up from $4.00) on shares of Frontier Group in a research report on Friday, December 12th. Morgan Stanley dropped their price objective on Frontier Group from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Monday, December 8th. Finally, Susquehanna upped their target price on shares of Frontier Group from $4.00 to $5.00 and gave the company a “neutral” rating in a report on Friday, January 9th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Frontier Group currently has an average rating of “Reduce” and a consensus price target of $6.13.

Frontier Group Trading Down 8.9%

The company has a current ratio of 0.40, a quick ratio of 0.36 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -9.52 and a beta of 2.55. The business has a 50 day simple moving average of $5.15 and a 200-day simple moving average of $4.66.

Institutional Investors Weigh In On Frontier Group

A number of institutional investors have recently bought and sold shares of the stock. Straightline Group LLC increased its position in Frontier Group by 9.5% during the fourth quarter. Straightline Group LLC now owns 60,586 shares of the company’s stock worth $285,000 after purchasing an additional 5,232 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Frontier Group by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,196,472 shares of the company’s stock valued at $10,347,000 after buying an additional 8,946 shares during the period. GSA Capital Partners LLP increased its holdings in shares of Frontier Group by 2,044.4% during the 4th quarter. GSA Capital Partners LLP now owns 318,159 shares of the company’s stock worth $1,499,000 after buying an additional 303,322 shares during the last quarter. Capstone Capital Management Ltd purchased a new position in shares of Frontier Group in the 4th quarter worth $269,000. Finally, Inscription Capital LLC acquired a new position in Frontier Group in the fourth quarter valued at $72,000.

Frontier Group Company Profile

Frontier Group, trading on Nasdaq under the ticker ULCC, is the holding company for Frontier Airlines, an ultra-low-cost carrier based in Denver, Colorado. The company’s core business centers on providing no-frills air travel across a point-to-point network while generating ancillary revenue from add-on services such as baggage fees, seat selection, priority boarding and in-flight refreshments. This fare-plus-a-la-carte model allows Frontier to offer competitive base fares and maintain low operating costs.

Founded in February 1994 by industry veterans Andrew Levy and Russell Beardsmore, Frontier Airlines commenced operations with a small fleet of MD-80 aircraft.