Frontier Group Holdings, Inc. (NASDAQ:ULCC) Sees Significant Growth in Short Interest

Frontier Group Holdings, Inc. (NASDAQ:ULCC) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 16,430,000 shares, agrowthof9,446.8% from the June 30th total of 172,100 shares. Based on an average daily volume of 3,730,000 shares, the days-to-cover ratio is presently 4.4 days. Currently,19.7% of the shares of the stock are sold short. Currently,19.7% of the shares of the stock are sold short. Based on an average daily volume of 3,730,000 shares, the days-to-cover ratio is presently 4.4 days.

Frontier Group Trading Down 9.4%

Shares of ULCC opened at $3.97 on Friday. Frontier Group has a 1-year low of $2.79 and a 1-year high of $10.26. The company has a 50-day moving average of $3.98 and a 200 day moving average of $5.13. The firm has a market capitalization of $904.21 million, a price-to-earnings ratio of 13.69 and a beta of 2.62. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.49 and a quick ratio of 0.45.

Frontier Group (NASDAQ:ULCC) last posted its earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.03. The business had revenue of $912.00 million for the quarter, compared to the consensus estimate of $996.05 million. Frontier Group had a net margin of 1.78% and a return on equity of 5.53%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) EPS. On average, research analysts expect that Frontier Group will post 0.91 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on ULCC. Citigroup lowered their price objective on shares of Frontier Group from $7.25 to $4.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Susquehanna lowered their target price on shares of Frontier Group from $9.00 to $3.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Morgan Stanley lowered their target price on shares of Frontier Group from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Monday, May 19th. UBS Group set a $4.00 target price on shares of Frontier Group and gave the stock a “neutral” rating in a report on Monday, July 7th. Finally, Evercore ISI lowered their target price on shares of Frontier Group from $7.00 to $5.00 and set an “in-line” rating for the company in a report on Friday, April 11th. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.67.

Insider Buying and Selling

In other Frontier Group news, SVP Alexandre Clerc sold 12,000 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $3.89, for a total transaction of $46,680.00. Following the completion of the transaction, the senior vice president owned 11,912 shares in the company, valued at $46,337.68. This trade represents a 50.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 48.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS purchased a new position in Frontier Group during the 4th quarter valued at about $50,000. Byrne Asset Management LLC purchased a new position in shares of Frontier Group in the 1st quarter worth approximately $35,000. CWM LLC grew its position in shares of Frontier Group by 165.0% in the 2nd quarter. CWM LLC now owns 10,042 shares of the company’s stock worth $36,000 after buying an additional 6,253 shares during the last quarter. Baron Wealth Management LLC purchased a new position in shares of Frontier Group in the 2nd quarter worth approximately $37,000. Finally, MQS Management LLC purchased a new position in shares of Frontier Group in the 2nd quarter worth approximately $37,000.

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.