Frontier Group (NASDAQ:ULCC) Stock Price Down 4.2%

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) traded down 4.2% during mid-day trading on Friday . The stock traded as low as $6.78 and last traded at $6.78. 97,713 shares changed hands during trading, a decline of 96% from the average session volume of 2,402,125 shares. The stock had previously closed at $7.08.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Morgan Stanley reissued an “equal weight” rating and set a $8.00 price target (down from $10.00) on shares of Frontier Group in a report on Monday, January 8th. Barclays lifted their price target on shares of Frontier Group from $7.00 to $9.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Susquehanna boosted their target price on shares of Frontier Group from $5.00 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Bank of America reaffirmed a “neutral” rating and issued a $6.00 target price (down from $8.00) on shares of Frontier Group in a research note on Tuesday, January 9th. Finally, TD Cowen boosted their target price on shares of Frontier Group from $5.00 to $12.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $7.78.

Frontier Group Stock Performance

The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.48. The firm has a market capitalization of $1.50 billion, a P/E ratio of -112.00 and a beta of 2.57. The stock’s 50 day moving average is $7.34 and its two-hundred day moving average is $5.54.

Insider Buying and Selling

In related news, CEO Barry Biffle sold 151,620 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $7.72, for a total transaction of $1,170,506.40. Following the completion of the sale, the chief executive officer now directly owns 772,981 shares of the company’s stock, valued at $5,967,413.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 83.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Frontier Group

Several large investors have recently bought and sold shares of ULCC. Qube Research & Technologies Ltd bought a new stake in Frontier Group in the third quarter valued at approximately $25,000. Signaturefd LLC bought a new stake in Frontier Group in the third quarter valued at approximately $28,000. PNC Financial Services Group Inc. increased its stake in Frontier Group by 632.0% in the third quarter. PNC Financial Services Group Inc. now owns 5,768 shares of the company’s stock valued at $28,000 after purchasing an additional 4,980 shares in the last quarter. CWM LLC increased its position in shares of Frontier Group by 1,705.7% during the third quarter. CWM LLC now owns 6,627 shares of the company’s stock worth $32,000 after acquiring an additional 6,260 shares in the last quarter. Finally, Royal Bank of Canada increased its position in shares of Frontier Group by 45.7% during the third quarter. Royal Bank of Canada now owns 3,387 shares of the company’s stock worth $32,000 after acquiring an additional 1,062 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.