Frontier Group (NASDAQ:ULCC) Trading Down 4.3%

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s stock price was down 4.3% during mid-day trading on Wednesday . The stock traded as low as $6.38 and last traded at $6.43. Approximately 262,125 shares were traded during 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

Several research analysts have recently issued reports on ULCC shares. Bank of America restated a “neutral” rating and set a $6.00 price objective (down previously from $8.00) on shares of Frontier Group in a report on Tuesday, January 9th. Susquehanna boosted their price objective on shares of Frontier Group from $5.00 to $7.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Morgan Stanley reissued an “equal weight” rating and issued a $8.00 target price (down previously from $10.00) on shares of Frontier Group in a research note on Monday, January 8th. Evercore ISI upped their target price 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. Finally, UBS Group began coverage on shares of Frontier Group in a research note on Wednesday, March 20th. They issued a “neutral” rating and a $8.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Frontier Group currently has an average rating of “Hold” and a consensus target price of $7.78.

Frontier Group Trading Down 1.7 %

The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.48 and a current ratio of 0.53. The company’s 50 day simple moving average is $7.27 and its two-hundred day simple moving average is $5.66.

Insiders Place Their Bets

In other Frontier Group news, CEO Barry Biffle sold 14,500 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $7.21, for a total transaction of $104,545.00. Following the sale, the chief executive officer now directly owns 63,949 shares of the company’s stock, valued at $461,072.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 81.50% of the company’s stock.

Hedge Funds Weigh In On Frontier Group

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

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.