Frontier Group (NASDAQ:ULCC) Stock Price Down 5.9% – Here’s What Happened

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) dropped 5.9% on Tuesday . The company traded as low as $5.76 and last traded at $5.77. Approximately 928,228 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 2,135,841 shares. The stock had previously closed at $6.13.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ULCC. Citigroup upped their target price on Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating for the company in a report on Friday, August 9th. 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 research report on Monday, November 4th. Bank of America lowered their price target on Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Finally, Evercore ISI boosted their price objective on Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.32.

Frontier Group Price Performance

The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.48 and a current ratio of 0.53. The stock has a fifty day simple moving average of $5.94 and a 200-day simple moving average of $4.93.

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

Insiders Place Their Bets

In other Frontier Group news, SVP Steve Schuller sold 10,000 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $6.00, for a total value of $60,000.00. Following the completion of the transaction, the senior vice president now directly owns 34,035 shares of the company’s stock, valued at approximately $204,210. The trade was a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 81.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. U S Global Investors Inc. raised its holdings in Frontier Group by 71.4% during the 3rd quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock worth $40,473,000 after purchasing an additional 3,150,768 shares during the last quarter. AlTi Global Inc. bought a new stake in shares of Frontier Group during the second quarter worth approximately $21,222,000. Vanguard Group Inc. lifted its holdings in Frontier Group by 1.5% in the first quarter. Vanguard Group Inc. now owns 4,116,430 shares of the company’s stock valued at $33,384,000 after buying an additional 60,943 shares during the period. Geode Capital Management LLC boosted its stake in Frontier Group by 38.4% in the third quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after acquiring an additional 441,001 shares during the last quarter. Finally, Verition Fund Management LLC grew its holdings in Frontier Group by 235.7% during the 3rd quarter. Verition Fund Management LLC now owns 646,243 shares of the company’s stock worth $3,457,000 after acquiring an additional 453,736 shares during the period.

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.