Frontier Group (NASDAQ:ULCC) Trading Down 5.1% – Time to Sell?

Frontier Group Holdings, Inc. (NASDAQ:ULCC) was down 5.1% on Friday . The company traded as low as $6.76 and last traded at $6.86. Approximately 574,622 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 1,571,462 shares. The stock had previously closed at $7.23.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Evercore ISI raised their target price on shares of Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Bank of America decreased their target price on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Raymond James upgraded shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research report on Monday, September 30th. UBS Group began coverage on shares of Frontier Group in a research report on Tuesday, November 26th. They set a “neutral” rating and a $6.00 price objective on the stock. Finally, Barclays boosted their target price on shares of Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.46.

Frontier Group Stock Down 2.8 %

The stock has a market cap of $1.58 billion, a P/E ratio of -175.71 and a beta of 2.43. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57. The business has a 50-day simple moving average of $6.35 and a 200-day simple moving average of $5.11.

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

Insider Activity

In other news, Director Josh T. Connor sold 30,000 shares of Frontier Group stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Barry Biffle sold 160,000 shares of the stock in a transaction dated 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 directly owns 784,817 shares of the company’s stock, valued at $5,399,540.96. This trade represents a 16.93 % decrease in their position. The disclosure for this sale can be found here. 81.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Frontier Group

A number of institutional investors have recently added to or reduced their stakes in the stock. AlTi Global Inc. acquired a new stake in Frontier Group in the 2nd quarter valued at $21,222,000. U S Global Investors Inc. lifted its holdings in shares of Frontier Group by 71.4% during the third quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock valued at $40,473,000 after acquiring an additional 3,150,768 shares during the period. Verition Fund Management LLC boosted its stake in shares of Frontier Group by 235.7% in the 3rd quarter. Verition Fund Management LLC now owns 646,243 shares of the company’s stock valued at $3,457,000 after purchasing an additional 453,736 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Frontier Group by 38.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock worth $8,512,000 after purchasing an additional 441,001 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Frontier Group by 81.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock worth $3,205,000 after purchasing an additional 269,221 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.