Frontier Group (NASDAQ:ULCC) Shares Gap Down to $7.11

Frontier Group Holdings, Inc. (NASDAQ:ULCC) gapped down before the market opened on Tuesday . The stock had previously closed at $7.11, but opened at $6.90. Frontier Group shares last traded at $6.93, with a volume of 331,692 shares.

Wall Street Analysts Forecast Growth

ULCC has been the subject of a number of research reports. TD Cowen raised their target price on shares of Frontier Group from $5.00 to $12.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. Bank of America restated a “neutral” rating and set a $6.00 target price (down previously from $8.00) on shares of Frontier Group in a research note on Tuesday, January 9th. Barclays lifted their price objective on shares of Frontier Group from $7.00 to $9.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Susquehanna lifted their price objective on shares of Frontier Group from $5.00 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $8.00 price objective (down previously from $10.00) on shares of Frontier Group in a research note on Monday, January 8th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.78.

Frontier Group Stock Down 5.2 %

The company has a market capitalization of $1.51 billion, a P/E ratio of -118.50 and a beta of 2.57. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.48 and a current ratio of 0.53. The firm’s fifty day moving average is $7.34 and its 200-day moving average is $5.64.

Insider Activity at Frontier Group

In related news, CEO Barry Biffle sold 151,620 shares of Frontier Group stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $7.72, for a total transaction of $1,170,506.40. Following the sale, the chief executive officer now directly owns 772,981 shares of the company’s stock, valued at approximately $5,967,413.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 81.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Frontier Group

A number of institutional investors have recently added to or reduced their stakes in ULCC. Signaturefd LLC acquired a new position in shares of Frontier Group in the 3rd quarter worth approximately $28,000. PNC Financial Services Group Inc. lifted its position in shares of Frontier Group by 632.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,768 shares of the company’s stock worth $28,000 after purchasing an additional 4,980 shares during the period. CWM LLC lifted its position in shares of Frontier Group by 1,705.7% in the 3rd quarter. CWM LLC now owns 6,627 shares of the company’s stock worth $32,000 after purchasing an additional 6,260 shares during the period. NBC Securities Inc. acquired a new position in shares of Frontier Group in the 3rd quarter worth approximately $58,000. Finally, Private Advisor Group LLC acquired a new position in shares of Frontier Group in the 4th quarter worth approximately $59,000.

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.