Frontier Group (NASDAQ:ULCC) Trading Down 5.3% on Analyst Downgrade

Frontier Group Holdings, Inc. (NASDAQ:ULCC) shares fell 5.3% during mid-day trading on Thursday after UBS Group lowered their price target on the stock from $10.00 to $7.00. UBS Group currently has a neutral rating on the stock. Frontier Group traded as low as $5.73 and last traded at $5.65. 332,323 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 2,191,505 shares. The stock had previously closed at $5.96.

Other research analysts have also issued reports about the stock. Citigroup reiterated a “neutral” rating and set a $7.25 price target on shares of Frontier Group in a research note on Thursday. Deutsche Bank Aktiengesellschaft cut Frontier Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $12.00 to $8.00 in a research report on Tuesday, March 4th. Susquehanna lifted their price target on Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Barclays upped their price objective on Frontier Group from $10.00 to $14.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Morgan Stanley raised their target price on Frontier Group from $7.00 to $10.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $7.58.

Insider Buying and Selling at Frontier Group

In other news, SVP Alexandre Clerc sold 15,152 shares of Frontier Group stock in a transaction on Friday, March 7th. The stock was sold at an average price of $6.63, for a total transaction of $100,457.76. Following the completion of the transaction, the senior vice president now owns 23,912 shares of the company’s stock, valued at $158,536.56. The trade was a 38.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Howard Diamond sold 87,830 shares of Frontier Group stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $8.77, for a total value of $770,269.10. Following the transaction, the executive vice president now directly owns 175,886 shares of the company’s stock, valued at $1,542,520.22. This trade represents a 33.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 860,982 shares of company stock valued at $6,912,597. 81.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ULCC. Vanguard Group Inc. increased its position in Frontier Group by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 8,186,633 shares of the company’s stock worth $58,207,000 after purchasing an additional 26,682 shares in the last quarter. Balyasny Asset Management L.P. increased its position in Frontier Group by 31.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,396,885 shares of the company’s stock worth $17,042,000 after purchasing an additional 578,151 shares in the last quarter. Towle & Co. increased its position in Frontier Group by 6.1% during the 4th quarter. Towle & Co. now owns 2,348,882 shares of the company’s stock worth $16,701,000 after purchasing an additional 134,723 shares in the last quarter. Voloridge Investment Management LLC increased its position in Frontier Group by 835.6% during the 4th quarter. Voloridge Investment Management LLC now owns 1,702,008 shares of the company’s stock worth $12,101,000 after purchasing an additional 1,520,094 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Frontier Group by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 1,625,953 shares of the company’s stock worth $11,564,000 after purchasing an additional 35,355 shares in the last quarter.

Frontier Group Trading Down 0.9 %

The stock has a market cap of $1.24 billion, a PE ratio of 15.19 and a beta of 2.37. The business has a 50-day moving average of $7.73 and a 200 day moving average of $6.57. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.48 and a current ratio of 0.53.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings data on Friday, February 7th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.20. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. Equities research analysts predict that Frontier Group Holdings, Inc. will post 0.91 EPS for the current fiscal year.

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.