Frontier Group (NASDAQ:ULCC) Shares Gap Down to $7.11

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $7.11, but opened at $6.90. Frontier Group shares last traded at $6.93, with a volume of 331,692 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ULCC shares. Evercore ISI upped their price objective on Frontier Group from $7.00 to $8.50 and gave the company an “in-line” rating in a report on Thursday, April 4th. TD Cowen upped their target price on Frontier Group from $5.00 to $12.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 7th. Susquehanna increased their price objective on Frontier Group from $5.00 to $7.00 and gave the company a “neutral” rating in a report on Friday, February 9th. UBS Group assumed coverage on Frontier Group in a research report on Wednesday, March 20th. They issued a “neutral” rating and a $8.00 price objective for the company. Finally, Bank of America restated a “neutral” rating and set a $6.00 target price (down previously from $8.00) on shares of Frontier Group in a research report on Tuesday, January 9th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.78.

Frontier Group Stock Down 5.4 %

The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.48 and a current ratio of 0.53. The business has a 50 day moving average of $7.30 and a 200 day moving average of $5.66.

Insider Buying and Selling

In other Frontier Group news, CEO Barry Biffle sold 14,500 shares of Frontier Group stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $7.21, for a total transaction of $104,545.00. Following the transaction, the chief executive officer now directly owns 63,949 shares in the company, valued at $461,072.29. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 81.50% of the stock is owned by insiders.

Institutional Trading of Frontier Group

A number of hedge funds and other institutional investors have recently modified their holdings of ULCC. CWM LLC increased its position in shares of Frontier Group by 1,705.7% in the third quarter. CWM LLC now owns 6,627 shares of the company’s stock valued at $32,000 after acquiring an additional 6,260 shares during the last quarter. Olympiad Research LP increased its position in shares of Frontier Group by 385.1% in the third quarter. Olympiad Research LP now owns 66,184 shares of the company’s stock valued at $320,000 after acquiring an additional 52,540 shares during the last quarter. Duality Advisers LP acquired a new stake in shares of Frontier Group in the third quarter valued at about $120,000. Signaturefd LLC acquired a new stake in shares of Frontier Group in the third quarter valued at about $28,000. Finally, NBC Securities Inc. acquired a new position in Frontier Group during the third quarter worth approximately $58,000.

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.