Frontier Group (NASDAQ:ULCC) Trading Down 4.3%

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s stock price dropped 4.3% during trading on Wednesday . The company traded as low as $6.38 and last traded at $6.43. Approximately 262,125 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 2,309,719 shares. The stock had previously closed at $6.72.

Wall Street Analyst Weigh In

ULCC has been the subject of a number of research reports. TD Cowen lifted their price target on Frontier Group from $5.00 to $12.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. Susquehanna lifted their price target on 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 reiterated a “neutral” rating and issued a $6.00 price target (down from $8.00) on shares of Frontier Group in a research note on Tuesday, January 9th. Morgan Stanley reissued an “equal weight” rating and issued a $8.00 target price (down previously from $10.00) on shares of Frontier Group in a report on Monday, January 8th. Finally, UBS Group started coverage on shares of Frontier Group in a report on Wednesday, March 20th. They issued a “neutral” rating and a $8.00 target price on the stock. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Frontier Group currently has an average rating of “Hold” and an average target price of $7.78.

Frontier Group Trading Down 1.7 %

The stock has a fifty day moving average price of $7.27 and a two-hundred day moving average price of $5.66. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.50.

Insider Activity

In other news, CEO Barry Biffle sold 151,620 shares of Frontier Group stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $7.72, for a total transaction of $1,170,506.40. Following the sale, the chief executive officer now owns 772,981 shares of the company’s stock, valued at $5,967,413.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 81.50% of the company’s stock.

Institutional Investors Weigh In On Frontier Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ULCC. Signaturefd LLC bought a new stake in Frontier Group during the third quarter worth approximately $28,000. PNC Financial Services Group Inc. raised its holdings in Frontier Group by 632.0% during the third quarter. PNC Financial Services Group Inc. now owns 5,768 shares of the company’s stock worth $28,000 after purchasing an additional 4,980 shares in the last quarter. CWM LLC raised its holdings in 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 purchasing an additional 6,260 shares in the last quarter. NBC Securities Inc. bought a new stake in Frontier Group during the third quarter worth approximately $58,000. Finally, Private Advisor Group LLC bought a new stake in Frontier Group during the fourth quarter worth approximately $59,000.

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.