Frontier Group (NASDAQ:ULCC) Shares Gap Down – Time to Sell?

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $6.93, but opened at $6.53. Frontier Group shares last traded at $6.35, with a volume of 814,067 shares.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. UBS Group boosted their price objective on Frontier Group from $6.00 to $8.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Morgan Stanley upped their price target on Frontier Group from $7.00 to $10.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. Deutsche Bank Aktiengesellschaft downgraded shares of Frontier Group from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $12.00 to $8.00 in a research note on Tuesday. Susquehanna boosted their target price on shares of Frontier Group from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Finally, Barclays increased their price target on shares of Frontier Group from $10.00 to $14.00 and gave the company an “overweight” rating in a report on Monday, February 10th. One research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.74.

Frontier Group Price Performance

The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 18.63 and a beta of 2.35. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.48. The stock’s 50 day simple moving average is $8.12 and its two-hundred day simple moving average is $6.36.

Frontier Group (NASDAQ:ULCC) last issued its earnings results on Friday, February 7th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.20. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. On average, analysts forecast that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Barry Biffle sold 273,000 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $8.44, for a total value of $2,304,120.00. Following the sale, the chief executive officer now owns 816,817 shares of the company’s stock, valued at $6,893,935.48. The trade was a 25.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Steve Schuller sold 5,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $7.07, for a total value of $35,350.00. Following the completion of the sale, the senior vice president now owns 47,590 shares in the company, valued at $336,461.30. This trade represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 845,830 shares of company stock worth $6,812,139. Company insiders own 81.50% of the company’s stock.

Hedge Funds Weigh In On Frontier Group

Several institutional investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Frontier Group by 8.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,359 shares of the company’s stock worth $536,000 after buying an additional 5,834 shares during the last quarter. Voloridge Investment Management LLC grew 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 acquiring an additional 1,520,094 shares during the last quarter. Squarepoint Ops LLC increased its holdings in Frontier Group by 1,494.8% during the 4th quarter. Squarepoint Ops LLC now owns 384,403 shares of the company’s stock valued at $2,733,000 after purchasing an additional 360,299 shares in the last quarter. Towle & Co. raised its position in Frontier Group by 6.1% in the 4th quarter. Towle & Co. now owns 2,348,882 shares of the company’s stock valued at $16,701,000 after purchasing an additional 134,723 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Frontier Group by 310.2% in the fourth quarter. Two Sigma Advisers LP now owns 274,400 shares of the company’s stock worth $1,951,000 after purchasing an additional 207,500 shares in the last quarter.

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.