Frontier Group (NASDAQ:ULCC) Shares Gap Down to $7.11

Frontier Group Holdings, Inc. (NASDAQ:ULCC) gapped down prior to trading on Tuesday . The stock had previously closed at $7.11, but opened at $6.90. Frontier Group shares last traded at $6.93, with a volume of 331,692 shares trading hands.

Analyst Upgrades and Downgrades

ULCC has been the topic of a number of research reports. Evercore ISI boosted their target price on shares of Frontier Group from $7.00 to $8.50 and gave the stock an “in-line” rating in a report on Thursday, April 4th. TD Cowen boosted their target price on shares of Frontier Group from $5.00 to $12.00 and gave the stock a “market perform” rating in a report on Wednesday, February 7th. Bank of America restated a “neutral” rating and issued a $6.00 target price (down from $8.00) on shares of Frontier Group in a report on Tuesday, January 9th. Barclays boosted their target price on shares of Frontier Group from $7.00 to $9.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $8.00 target price (down from $10.00) on shares of Frontier Group in a report on Monday, January 8th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $7.78.

Frontier Group Price Performance

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 business’s 50 day moving average is $7.30 and its 200 day moving average is $5.66.

Insider Buying and Selling at Frontier Group

In other Frontier Group news, CEO Barry Biffle sold 151,620 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $7.72, for a total value 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 filing with the SEC, which is available through this link. 81.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Frontier Group

Large investors have recently added to or reduced their stakes in the stock. U S Global Investors Inc. boosted its position in Frontier Group by 46.0% in the 4th quarter. U S Global Investors Inc. now owns 10,483,645 shares of the company’s stock valued at $57,241,000 after buying an additional 3,305,465 shares during the period. Vanguard Group Inc. lifted its position in shares of Frontier Group by 20.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,821,012 shares of the company’s stock worth $18,494,000 after purchasing an additional 636,921 shares during the period. Jump Financial LLC purchased a new stake in shares of Frontier Group in the 3rd quarter worth approximately $1,867,000. Boston Partners lifted its position in shares of Frontier Group by 65.5% in the 3rd quarter. Boston Partners now owns 184,559 shares of the company’s stock worth $893,000 after purchasing an additional 73,024 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Frontier Group by 29.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 435,166 shares of the company’s stock worth $2,106,000 after purchasing an additional 98,852 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.