Frontier Group (NASDAQ:ULCC) Trading Up 15.6% – Should You Buy?

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) rose 15.6% during mid-day trading on Monday . The stock traded as high as $8.28 and last traded at $8.22. Approximately 961,967 shares changed hands during trading, a decline of 55% from the average daily volume of 2,160,440 shares. The stock had previously closed at $7.11.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ULCC shares. UBS Group assumed coverage on Frontier Group in a report on Tuesday, November 26th. They set a “neutral” rating and a $6.00 target price for the company. Morgan Stanley decreased their price objective on Frontier Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft upgraded Frontier Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $6.00 to $8.00 in a research note on Wednesday, December 11th. TD Cowen increased their price target on shares of Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Monday, September 16th. Finally, Raymond James upgraded shares of Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Frontier Group presently has an average rating of “Hold” and a consensus price target of $6.46.

Frontier Group Stock Performance

The firm’s 50-day simple moving average is $6.35 and its two-hundred day simple moving average is $5.12. The company has a market cap of $1.85 billion, a PE ratio of -204.95 and a beta of 2.43. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.57.

Frontier Group (NASDAQ:ULCC) last released its earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The company had revenue of $935.00 million during the quarter, compared to analysts’ expectations of $943.30 million. During the same quarter last year, the firm posted ($0.14) earnings per share. Frontier Group’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, research analysts anticipate that Frontier Group Holdings, Inc. will post 0.05 earnings per share for the current fiscal year.

Insider Transactions at Frontier Group

In other Frontier Group news, Director Josh T. Connor sold 30,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $1,874,397. This represents a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Barry Biffle sold 160,000 shares of Frontier Group stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $6.88, for a total value of $1,100,800.00. Following the transaction, the chief executive officer now owns 784,817 shares of the company’s stock, valued at $5,399,540.96. The trade was a 16.93 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 81.50% of the company’s stock.

Institutional Trading of Frontier Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in 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 in the last quarter. Algert Global LLC lifted its stake in shares of Frontier Group by 80.2% in the 3rd quarter. Algert Global LLC now owns 451,508 shares of the company’s stock valued at $2,416,000 after purchasing an additional 200,885 shares during the period. Creative Planning boosted its holdings in Frontier Group by 81.0% during the third quarter. Creative Planning now owns 234,026 shares of the company’s stock worth $1,252,000 after buying an additional 104,707 shares in the last quarter. U S Global Investors Inc. grew its position in 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 buying an additional 3,150,768 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in shares of Frontier Group in the third quarter worth about $54,000.

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.