Frontier Group (NASDAQ:ULCC) Trading Down 6.1% – Should You Sell?

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s stock price fell 6.1% on Wednesday . The stock traded as low as $9.16 and last traded at $9.14. 5,236,470 shares were traded during trading, an increase of 89% from the average session volume of 2,773,649 shares. The stock had previously closed at $9.73.

Analysts Set New Price Targets

Several research firms recently issued reports on ULCC. Susquehanna boosted their price target on Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Barclays boosted their target price on shares of Frontier Group from $10.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft upgraded shares of Frontier Group from a “hold” rating to a “buy” rating and upped their price target for the company from $6.00 to $8.00 in a research note on Wednesday, December 11th. Citigroup lifted their price objective on shares of Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, UBS Group increased their target price on shares of Frontier Group from $6.00 to $8.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.41.

Frontier Group Stock Performance

The stock’s fifty day moving average price is $7.61 and its two-hundred day moving average price is $5.88. The company has a market cap of $2.08 billion, a P/E ratio of -231.19 and a beta of 2.35. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.48 and a current ratio of 0.53.

Frontier Group (NASDAQ:ULCC) last released its earnings results on Friday, February 7th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.20. As a group, equities analysts predict that Frontier Group Holdings, Inc. will post 0.12 earnings per share for the current year.

Insider Buying and Selling at Frontier Group

In other Frontier Group news, CEO Barry Biffle sold 273,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $8.44, for a total value of $2,304,120.00. Following the sale, the chief executive officer now owns 816,817 shares in the company, valued at $6,893,935.48. This trade represents a 25.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Steve Schuller sold 5,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total transaction of $35,350.00. Following the transaction, the senior vice president now owns 47,590 shares of the company’s stock, valued at $336,461.30. This trade represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 788,000 shares of company stock worth $6,214,070 over the last 90 days. Insiders own 81.50% of the company’s stock.

Institutional Investors Weigh In On Frontier Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in Frontier Group by 162.2% during the fourth quarter. JPMorgan Chase & Co. now owns 50,902 shares of the company’s stock worth $362,000 after buying an additional 31,492 shares during the last quarter. Vanguard Group Inc. grew its holdings in Frontier Group by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 8,186,633 shares of the company’s stock worth $58,207,000 after acquiring an additional 26,682 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Frontier Group in the 4th quarter worth about $50,000. American Century Companies Inc. acquired a new position in shares of Frontier Group in the 4th quarter valued at about $379,000. Finally, Blueshift Asset Management LLC bought a new stake in shares of Frontier Group during the 4th quarter valued at about $725,000.

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.