Frontier Group (NASDAQ:ULCC) Shares Gap Up to $6.50

Frontier Group Holdings, Inc. (NASDAQ:ULCC) shares gapped up prior to trading on Wednesday . The stock had previously closed at $6.50, but opened at $6.69. Frontier Group shares last traded at $6.91, with a volume of 120,587 shares trading hands.

Analysts Set New Price Targets

ULCC has been the topic of several research reports. Susquehanna boosted their price objective on shares of Frontier Group from $5.00 to $7.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $8.00 price objective (down from $10.00) on shares of Frontier Group in a research report on Monday, January 8th. Bank of America reaffirmed a “neutral” rating and issued a $6.00 price objective (down from $8.00) on shares of Frontier Group in a research report on Tuesday, January 9th. Evercore ISI boosted their price target on shares of Frontier Group from $7.00 to $8.50 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Finally, UBS Group assumed coverage on shares of Frontier Group in a research report on Wednesday, March 20th. They set a “neutral” rating and a $8.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.78.

Frontier Group Stock Up 1.6 %

The company’s 50 day moving average price is $7.37 and its 200-day moving average price is $5.59. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.48 and a current ratio of 0.53.

Insider Transactions at Frontier Group

In other news, CEO Barry Biffle sold 151,620 shares of the stock in a transaction 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 in the company, valued at $5,967,413.32. The transaction was disclosed in a filing with the SEC, which is available at this link. 83.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Frontier Group

A number of large investors have recently bought and sold shares of the stock. U S Global Investors Inc. lifted its stake in shares of Frontier Group by 46.0% in the fourth quarter. U S Global Investors Inc. now owns 10,483,645 shares of the company’s stock valued at $57,241,000 after buying an additional 3,305,465 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Frontier Group by 20.0% in the third quarter. Vanguard Group Inc. now owns 3,821,012 shares of the company’s stock valued at $18,494,000 after buying an additional 636,921 shares in the last quarter. Jump Financial LLC bought a new position in shares of Frontier Group in the third quarter valued at $1,867,000. Boston Partners lifted its stake in shares of Frontier Group by 65.5% in the third quarter. Boston Partners now owns 184,559 shares of the company’s stock valued at $893,000 after buying an additional 73,024 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Frontier Group by 29.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 435,166 shares of the company’s stock valued at $2,106,000 after buying an additional 98,852 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.