Frontier Group (NASDAQ:ULCC) Trading Down 4.3%

Frontier Group Holdings, Inc. (NASDAQ:ULCC) was down 4.3% on Wednesday . The stock traded as low as $6.38 and last traded at $6.43. Approximately 262,125 shares changed 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

A number of equities research analysts recently commented on ULCC shares. UBS Group began coverage on Frontier Group in a report on Wednesday, March 20th. They set a “neutral” rating and a $8.00 target price for the company. Evercore ISI increased their price target on Frontier Group from $7.00 to $8.50 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Susquehanna raised their target price on Frontier Group from $5.00 to $7.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Barclays increased their price target on Frontier Group from $7.00 to $9.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Finally, Bank of America reissued a “neutral” rating and set a $6.00 target price (down previously from $8.00) on shares of Frontier Group in a research report on Tuesday, January 9th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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 stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -105.67 and a beta of 2.57. The firm has a 50-day moving average of $7.33 and a 200 day moving average of $5.65.

Insider Buying and Selling at Frontier Group

In other Frontier Group news, CEO Barry Biffle sold 14,500 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $7.21, for a total transaction of $104,545.00. Following the completion of the transaction, the chief executive officer now directly owns 63,949 shares of the company’s stock, valued at approximately $461,072.29. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 81.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Frontier Group

Several large investors have recently modified their holdings of ULCC. U S Global Investors Inc. raised its holdings 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 acquiring an additional 3,305,465 shares in the last quarter. Ancient Art L.P. boosted its holdings in Frontier Group by 52.3% during the third quarter. Ancient Art L.P. now owns 7,961,321 shares of the company’s stock valued at $38,533,000 after purchasing an additional 2,734,104 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of 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 acquiring an additional 636,921 shares during the last quarter. Russell Investments Group Ltd. raised its position in Frontier Group by 215.0% in the 4th quarter. Russell Investments Group Ltd. now owns 994,874 shares of the company’s stock worth $5,432,000 after purchasing an additional 679,075 shares during the last quarter. Finally, First Dallas Securities Inc. grew its holdings in Frontier Group by 985.8% during the 3rd quarter. First Dallas Securities Inc. now owns 952,746 shares of the company’s stock worth $4,611,000 after acquiring an additional 864,996 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.