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

Frontier Group Holdings, Inc. (NASDAQ:ULCC) shares gapped down before the market opened on Wednesday . The stock had previously closed at $5.39, but opened at $5.27. Frontier Group shares last traded at $5.25, with a volume of 511,471 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ULCC shares. Barclays increased their price objective on Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft reduced their target price 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. Raymond James upgraded Frontier Group from an “underperform” rating to a “market perform” rating in a research report on Monday, September 30th. Bank of America decreased their price target on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Finally, 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, October 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Frontier Group presently has an average rating of “Hold” and an average target price of $6.52.

Frontier Group Price Performance

The stock has a market capitalization of $1.22 billion, a PE ratio of -134.75 and a beta of 2.51. 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’s 50-day moving average is $5.73 and its 200 day moving average is $4.95.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates 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. During the same quarter last year, the business posted ($0.14) EPS. Frontier Group’s revenue was up 5.9% compared to the same quarter last year. As a group, equities analysts expect that Frontier Group Holdings, Inc. will post 0.04 earnings per share for the current year.

Insider Activity

In other news, SVP Steve Schuller sold 10,000 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 34,035 shares of the company’s stock, valued at approximately $204,210. This represents a 22.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 81.50% of the company’s stock.

Institutional Trading of Frontier Group

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. acquired a new position in Frontier Group during the second quarter worth $45,000. nVerses Capital LLC grew its stake in Frontier Group by 152.5% during the second quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock worth $50,000 after buying an additional 6,100 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Frontier Group during the 3rd quarter worth about $54,000. Ballentine Partners LLC bought a new position in Frontier Group in the 3rd quarter valued at $55,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Frontier Group in the second quarter valued at approximately $58,000.

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.