Frontier Group (NASDAQ:ULCC) Shares Gap Up to $5.84

Frontier Group Holdings, Inc. (NASDAQ:ULCC) shares gapped up before the market opened on Thursday . The stock had previously closed at $5.84, but opened at $6.64. Frontier Group shares last traded at $6.04, with a volume of 409,985 shares.

Analysts Set New Price Targets

Several analysts have issued reports on ULCC shares. TD Cowen increased their price objective on shares of Frontier Group from $5.00 to $12.00 and gave the company a “market perform” rating in a research report on Wednesday, February 7th. Bank of America reaffirmed a “neutral” rating and issued a $6.00 price objective (down previously from $8.00) on shares of Frontier Group in a research report on Tuesday, January 9th. Susquehanna increased their price objective on shares of Frontier Group from $5.00 to $7.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $8.00 price objective (down previously from $10.00) on shares of Frontier Group in a research report on Monday, January 8th. Finally, Barclays increased their price objective on shares of Frontier Group from $7.00 to $9.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Frontier Group currently has an average rating of “Hold” and a consensus target price of $7.78.

Frontier Group Price Performance

The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $1.34 billion, a P/E ratio of -106.00 and a beta of 2.63. The business has a 50 day simple moving average of $7.17 and a 200-day simple moving average of $5.71.

Insider Buying and Selling at Frontier Group

In related news, CEO Barry Biffle sold 151,620 shares of Frontier Group stock in a transaction dated 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 in the company, valued at $5,967,413.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 81.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Frontier Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its holdings in Frontier Group by 632.0% during the third quarter. PNC Financial Services Group Inc. now owns 5,768 shares of the company’s stock worth $28,000 after acquiring an additional 4,980 shares during the period. Signaturefd LLC acquired a new position in Frontier Group during the third quarter worth about $28,000. CWM LLC grew its holdings in Frontier Group by 1,705.7% during the third quarter. CWM LLC now owns 6,627 shares of the company’s stock worth $32,000 after acquiring an additional 6,260 shares during the period. Private Advisor Group LLC acquired a new position in Frontier Group during the fourth quarter worth about $59,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Frontier Group by 200.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,666 shares of the company’s stock worth $64,000 after acquiring an additional 7,782 shares during the period.

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.