Frontier Group (NASDAQ:ULCC) Stock Price Down 12.9% – Here’s What Happened

Frontier Group Holdings, Inc. (NASDAQ:ULCC) shares traded down 12.9% during mid-day trading on Monday . The stock traded as low as $5.91 and last traded at $5.92. 785,106 shares were traded during trading, a decline of 62% from the average session volume of 2,088,608 shares. The stock had previously closed at $6.80.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Barclays raised their price target on Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Susquehanna boosted their target price on shares of Frontier Group from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. lowered shares of Frontier Group from a “neutral” rating to an “underweight” rating in a research note on Tuesday, July 30th. Finally, Bank of America reduced their target price on Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.52.

Frontier Group Stock Down 2.9 %

The stock has a fifty day moving average price of $5.73 and a two-hundred day moving average price of $4.95. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -134.75 and a beta of 2.51. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The business had revenue of $935.00 million for the quarter, compared to analysts’ expectations of $943.30 million. During the same period in the prior year, the company earned ($0.14) earnings per share. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, sell-side analysts expect that Frontier Group Holdings, Inc. will post 0.04 EPS for the current year.

Insider Activity at Frontier Group

In other Frontier Group news, SVP Steve Schuller sold 10,000 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $6.00, for a total transaction of $60,000.00. Following the sale, the senior vice president now directly owns 34,035 shares in the company, valued at $204,210. This represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 81.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Frontier Group

Several large investors have recently made changes to their positions in the company. Blue Trust Inc. bought a new stake in Frontier Group during the second quarter worth $45,000. nVerses Capital LLC lifted its position in shares of Frontier Group by 152.5% during the 2nd quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock worth $50,000 after buying an additional 6,100 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in Frontier Group in the third quarter valued at about $54,000. Ballentine Partners LLC acquired a new position in Frontier Group during the third quarter worth about $55,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Frontier Group in the second quarter worth about $58,000.

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.