Frontier Group (NASDAQ:ULCC) Stock Price Up 13.9% Following Analyst Upgrade

Frontier Group Holdings, Inc. (NASDAQ:ULCC) traded up 13.9% on Monday after UBS Group raised their price target on the stock from $6.00 to $7.00. UBS Group currently has a neutral rating on the stock. Frontier Group traded as high as $7.25 and last traded at $7.3440. 858,385 shares were traded during trading, a decline of 79% from the average session volume of 4,153,947 shares. The stock had previously closed at $6.45.

ULCC has been the topic of a number of other reports. Zacks Research downgraded shares of Frontier Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Frontier Group in a research note on Wednesday. Barclays dropped their price objective on Frontier Group from $7.00 to $5.00 and set an “underweight” rating on the stock in a research report on Friday, September 11th. Finally, Susquehanna increased their price objective on shares of Frontier Group from $6.00 to $6.50 and gave the company a “neutral” rating in a research report on Thursday. Six equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $6.50.

Insider Activity at Frontier Group

In other news, SVP Steve Schuller sold 7,500 shares of Frontier Group stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $6.00, for a total value of $45,000.00. Following the sale, the senior vice president owned 79,675 shares in the company, valued at $478,050. This trade represents a 8.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Mitchell sold 125,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $8.09, for a total value of $1,011,250.00. Following the sale, the chief financial officer owned 53,785 shares of the company’s stock, valued at approximately $435,120.65. This trade represents a 69.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 332,520 shares of company stock valued at $2,660,029 in the last three months. Company insiders own 48.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new stake in Frontier Group during the 2nd quarter valued at approximately $888,000. U S Global Investors Inc. lifted its stake in Frontier Group by 63.9% in the 1st quarter. U S Global Investors Inc. now owns 6,781,412 shares of the company’s stock valued at $23,938,000 after buying an additional 2,643,448 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Frontier Group during the 2nd quarter worth about $4,373,000. BlackRock Inc. purchased a new stake in Frontier Group in the 2nd quarter worth approximately $47,205,000. Finally, PDT Partners LLC purchased a new stake in Frontier Group in the second quarter valued at approximately $1,586,000.

Frontier Group Stock Up 15.8%

The stock has a fifty day moving average price of $5.72 and a 200-day moving average price of $5.43. The company has a debt-to-equity ratio of 10.68, a quick ratio of 0.57 and a current ratio of 0.62. The firm has a market cap of $1.72 billion, a PE ratio of -4.17 and a beta of 2.70.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.24. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.29 billion. Frontier Group had a positive return on equity of 1.35% and a negative net margin of 8.93%. Frontier Group’s revenue for the quarter was up 52.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.34) earnings per share. Research analysts expect that Frontier Group Holdings, Inc. will post -0.39 EPS for the current year.

About Frontier Group

Frontier Group Holdings, Inc is the parent company of Frontier Airlines, an ultra-low-cost passenger airline headquartered in Denver, Colorado. The company operates a low-fare, point-to-point air transportation business, primarily serving leisure travelers and price-conscious customers.

Frontier Airlines offers scheduled flights to destinations across the United States, as well as selected locations in the Caribbean and Latin America. Its business model emphasizes low base fares with additional charges for optional services such as checked baggage, seat selection, priority boarding and other travel-related products.

Frontier Airlines traces its roots to 1994 and has expanded its network through a fleet focused largely on Airbus narrow-body aircraft.