Frontier Group (NASDAQ:ULCC) Shares Down 12.9% – What’s Next?

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s stock price traded down 12.9% during mid-day trading on Monday . The company traded as low as $5.91 and last traded at $5.92. 785,106 shares were traded during mid-day trading, a decline of 62% from the average session volume of 2,088,608 shares. The stock had previously closed at $6.80.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Evercore ISI increased their price target on Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. downgraded shares of Frontier Group from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 30th. Bank of America dropped their target price on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Finally, TD Cowen boosted their price objective on shares of Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Frontier Group presently has a consensus rating of “Hold” and an average target price of $6.52.

Frontier Group Price Performance

The company has a 50-day moving average price of $5.73 and a 200-day moving average price of $4.95. The firm has a market capitalization of $1.21 billion, a P/E ratio of -134.75 and a beta of 2.51. 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 announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The firm had revenue of $935.00 million during the quarter, compared to the consensus estimate of $943.30 million. During the same period in the previous year, the business posted ($0.14) earnings per share. Frontier Group’s revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts predict that Frontier Group Holdings, Inc. will post 0.04 earnings per share for the current year.

Insider Transactions at Frontier Group

In other Frontier Group news, SVP Steve Schuller sold 10,000 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $6.00, for a total value of $60,000.00. Following the completion of the sale, the senior vice president now directly owns 34,035 shares in the company, valued at $204,210. This represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 81.50% of the company’s stock.

Hedge Funds Weigh In On Frontier Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning lifted its holdings in shares of Frontier Group by 81.0% in the third quarter. Creative Planning now owns 234,026 shares of the company’s stock valued at $1,252,000 after purchasing an additional 104,707 shares in the last quarter. U S Global Investors Inc. boosted its position in Frontier Group by 71.4% during the 3rd quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock worth $40,473,000 after acquiring an additional 3,150,768 shares during the last quarter. Boston Partners grew its stake in shares of Frontier Group by 176.6% during the 1st quarter. Boston Partners now owns 1,053,270 shares of the company’s stock worth $8,518,000 after acquiring an additional 672,471 shares in the last quarter. AlTi Global Inc. acquired a new stake in shares of Frontier Group in the second quarter valued at approximately $21,222,000. Finally, Algert Global LLC lifted its position in shares of Frontier Group by 119.0% in the second quarter. Algert Global LLC now owns 250,623 shares of the company’s stock worth $1,236,000 after purchasing an additional 136,159 shares in the last quarter.

Frontier Group Company Profile

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.