Frontier Group (NASDAQ:ULCC) Stock Price Up 5.6% – Here’s Why

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s stock price shot up 5.6% during mid-day trading on Wednesday . The stock traded as high as $8.18 and last traded at $8.22. 487,149 shares were traded during trading, a decline of 79% from the average session volume of 2,269,278 shares. The stock had previously closed at $7.78.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Susquehanna raised their price target on Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Evercore ISI raised their price target on Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. Morgan Stanley dropped their target price on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. UBS Group raised their target price on shares of Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Finally, Citigroup boosted their target price on shares of Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Frontier Group currently has an average rating of “Hold” and an average price target of $6.96.

Frontier Group Stock Down 1.2 %

The business’s 50 day moving average price is $7.13 and its 200 day moving average price is $5.59. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48. The firm has a market cap of $1.90 billion, a PE ratio of -210.70 and a beta of 2.32.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The firm had revenue of $935.00 million for the quarter, compared to analysts’ expectations of $943.30 million. During the same quarter in the prior year, the company posted ($0.14) earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. On average, equities research analysts expect that Frontier Group Holdings, Inc. will post 0.12 earnings per share for the current year.

Insider Buying and Selling at Frontier Group

In related news, Director Josh T. Connor sold 30,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total value of $172,200.00. Following the sale, the director now directly owns 326,550 shares in the company, valued at approximately $1,874,397. The trade was a 8.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Barry Biffle sold 160,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $6.88, for a total transaction of $1,100,800.00. Following the completion of the transaction, the chief executive officer now owns 784,817 shares in the company, valued at approximately $5,399,540.96. This represents a 16.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 788,000 shares of company stock worth $6,214,070 in the last three months. 81.50% of the stock is owned by corporate insiders.

Institutional Trading of Frontier Group

Several hedge funds have recently made changes to their positions in the business. R Squared Ltd acquired a new stake in Frontier Group during the 4th quarter worth approximately $32,000. Victory Capital Management Inc. purchased a new position in Frontier Group in the third quarter valued at $54,000. Ballentine Partners LLC purchased a new stake in Frontier Group during the 3rd quarter worth about $55,000. Nisa Investment Advisors LLC raised its position in Frontier Group by 1,230.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock valued at $57,000 after purchasing an additional 7,380 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Frontier Group by 41.2% during the third quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock worth $63,000 after buying an additional 3,744 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.