Frontier Group (NASDAQ:ULCC) Trading Down 5.3% After Analyst Downgrade

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s stock price traded down 5.3% on Thursday after UBS Group lowered their price target on the stock from $10.00 to $7.00. UBS Group currently has a neutral rating on the stock. Frontier Group traded as low as $5.73 and last traded at $5.65. 332,323 shares changed hands during trading, a decline of 85% from the average session volume of 2,191,505 shares. The stock had previously closed at $5.96.

ULCC has been the subject of a number of other research reports. Susquehanna increased their target price on shares of Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft downgraded shares of Frontier Group from a “buy” rating to a “hold” rating and decreased their target price for the company from $12.00 to $8.00 in a research report on Tuesday, March 4th. Citigroup reissued a “neutral” rating and set a $7.25 target price on shares of Frontier Group in a research report on Thursday. Barclays increased their price target on Frontier Group from $10.00 to $14.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Morgan Stanley increased their price target on Frontier Group from $7.00 to $10.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $7.58.

Insider Activity at Frontier Group

In related news, SVP Steve Schuller sold 5,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total value of $35,350.00. Following the completion of the sale, the senior vice president now directly owns 47,590 shares of the company’s stock, valued at approximately $336,461.30. This represents a 9.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Howard Diamond sold 87,830 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $8.77, for a total value of $770,269.10. Following the completion of the sale, the executive vice president now directly owns 175,886 shares of the company’s stock, valued at $1,542,520.22. The trade was a 33.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 860,982 shares of company stock valued at $6,912,597. 81.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Frontier Group

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in shares of Frontier Group by 38.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after purchasing an additional 441,001 shares during the last quarter. Algert Global LLC increased its position in shares of Frontier Group by 80.2% during 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 last quarter. Victory Capital Management Inc. purchased a new stake in shares of Frontier Group during the 3rd quarter valued at $54,000. Barclays PLC increased its position in shares of Frontier Group by 378.6% during the 3rd quarter. Barclays PLC now owns 72,866 shares of the company’s stock valued at $389,000 after purchasing an additional 57,642 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Frontier Group by 1,230.0% during 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 during the last quarter.

Frontier Group Trading Down 7.4 %

The stock has a market capitalization of $1.25 billion, a PE ratio of 15.33 and a beta of 2.37. The firm has a 50-day moving average price of $7.78 and a 200-day moving average price of $6.56. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45.

Frontier Group (NASDAQ:ULCC) last announced its earnings results on Friday, February 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.20. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. As a group, equities analysts forecast that Frontier Group Holdings, Inc. will post 0.91 EPS for the current fiscal year.

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.