Traders Buy High Volume of Call Options on Frontier Group (NASDAQ:ULCC)

Frontier Group Holdings, Inc. (NASDAQ:ULCC) was the recipient of unusually large options trading on Friday. Traders acquired 7,751 call options on the company. This is an increase of approximately 1,528% compared to the average daily volume of 476 call options.

Frontier Group Stock Performance

Shares of ULCC stock traded up $1.02 on Friday, hitting $6.01. The company had a trading volume of 2,558,743 shares, compared to its average volume of 2,047,490. The firm has a market cap of $1.35 billion, a P/E ratio of -50.50 and a beta of 2.55. Frontier Group has a twelve month low of $2.79 and a twelve month high of $8.33. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $3.88 and a 200-day moving average price of $5.12.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $973.00 million during the quarter, compared to analysts’ expectations of $1.03 billion. Frontier Group had a negative return on equity of 4.09% and a negative net margin of 1.77%. Frontier Group’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 EPS. As a group, equities research analysts predict that Frontier Group will post -0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Frontier Group

Large investors have recently bought and sold shares of the business. Algert Global LLC increased its stake in Frontier Group by 119.0% during the 2nd quarter. Algert Global LLC now owns 250,623 shares of the company’s stock worth $1,236,000 after buying an additional 136,159 shares in the last quarter. SkyView Investment Advisors LLC increased its stake in Frontier Group by 18.5% during the 2nd quarter. SkyView Investment Advisors LLC now owns 325,444 shares of the company’s stock worth $1,604,000 after buying an additional 50,779 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Frontier Group by 27.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,970 shares of the company’s stock worth $98,000 after buying an additional 4,279 shares in the last quarter. AlTi Global Inc. purchased a new stake in shares of Frontier Group in the second quarter valued at approximately $21,222,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Frontier Group in the second quarter valued at approximately $302,000.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Citigroup raised their target price on Frontier Group from $3.50 to $4.70 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Evercore ISI raised their target price on Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a research note on Thursday. Susquehanna reduced their target price on Frontier Group from $4.50 to $3.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft reduced their target price on Frontier Group from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Finally, TD Cowen boosted their price objective on Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Frontier Group presently has an average rating of “Hold” and a consensus price target of $5.57.

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.