Frontier Group (NASDAQ:ULCC) Shares Gap Down – Here’s Why

Frontier Group Holdings, Inc. (NASDAQ:ULCC) gapped down prior to trading on Monday . The stock had previously closed at $6.99, but opened at $6.77. Frontier Group shares last traded at $6.78, with a volume of 164,395 shares trading hands.

Analysts Set New Price Targets

ULCC has been the subject of several research reports. Raymond James raised shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. downgraded shares of Frontier Group from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 30th. Citigroup boosted their price target on shares of Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price objective on Frontier Group from $5.00 to $4.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, Evercore ISI increased their price target on Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. 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. Based on data from MarketBeat.com, Frontier Group currently has an average rating of “Hold” and an average price target of $6.02.

Frontier Group Stock Down 2.7 %

The stock has a fifty day moving average price of $4.52 and a two-hundred day moving average price of $4.98. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -56.00 and a beta of 2.55. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 0.43.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. Frontier Group had a negative net margin of 1.77% and a negative return on equity of 4.09%. The business had revenue of $973.00 million during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company earned $0.31 EPS. The business’s revenue was up .6% on a year-over-year basis. As a group, sell-side analysts expect that Frontier Group Holdings, Inc. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Steve Schuller sold 10,000 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $6.00, for a total transaction of $60,000.00. Following the completion of the sale, the senior vice president now directly owns 34,035 shares in the company, valued at approximately $204,210. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 81.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Boston Partners boosted its position in shares of Frontier Group by 176.6% during the 1st quarter. Boston Partners now owns 1,053,270 shares of the company’s stock worth $8,518,000 after acquiring an additional 672,471 shares in the last quarter. U S Global Investors Inc. boosted its stake in shares of Frontier Group by 71.4% in the 3rd quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock valued at $40,473,000 after purchasing an additional 3,150,768 shares in the last quarter. AlTi Global Inc. bought a new stake in shares of Frontier Group during the 2nd quarter valued at approximately $21,222,000. Bleakley Financial Group LLC lifted its stake in Frontier Group by 23.3% in the 1st quarter. Bleakley Financial Group LLC now owns 25,154 shares of the company’s stock valued at $204,000 after purchasing an additional 4,756 shares during the last quarter. Finally, Norden Group LLC acquired a new stake in shares of Frontier Group during the 1st quarter valued at $293,000.

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.