Frontier Group (NASDAQ:ULCC) Reaches New 12-Month High – Here’s What Happened

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) reached a new 52-week high on Wednesday . The company traded as high as $8.42 and last traded at $8.42, with a volume of 266531 shares traded. The stock had previously closed at $8.33.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Morgan Stanley lowered their target price on Frontier Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft upgraded shares of Frontier Group from a “hold” rating to a “buy” rating and boosted their target price for the company from $6.00 to $8.00 in a report on Wednesday, December 11th. Raymond James upgraded shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. Susquehanna boosted their price objective on shares of Frontier Group from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Finally, UBS Group raised their target price on shares of Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.96.

Frontier Group Stock Performance

The stock’s fifty day moving average price is $6.66 and its 200 day moving average price is $5.30. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.57.

Frontier Group (NASDAQ:ULCC) last issued its earnings results on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The business had revenue of $935.00 million during the quarter, compared to analyst estimates of $943.30 million. During the same quarter last year, the company posted ($0.14) EPS. The company’s revenue was up 5.9% on a year-over-year basis. As a group, equities analysts predict that Frontier Group Holdings, Inc. will post 0.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Frontier Group news, SVP Steve Schuller sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 47,590 shares in the company, valued at approximately $336,461.30. This trade represents a 9.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Josh T. Connor sold 30,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total transaction of $172,200.00. Following the sale, the director now directly owns 326,550 shares of the company’s stock, valued at approximately $1,874,397. The trade was a 8.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 355,000 shares of company stock valued at $2,569,150. 81.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. bought a new stake in Frontier Group during the 3rd quarter worth approximately $54,000. Ballentine Partners LLC purchased a new stake in shares of Frontier Group in the third quarter worth $55,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Frontier Group during the 2nd quarter valued at $58,000. Blue Trust Inc. lifted its stake in shares of Frontier Group by 41.2% during the 3rd quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock valued at $63,000 after buying an additional 3,744 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Frontier Group by 251.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock worth $64,000 after buying an additional 8,507 shares during the period.

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.