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

Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) 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 changing hands.

Wall Street Analyst Weigh In

A number of analysts have commented on ULCC shares. Bank of America reaffirmed a “neutral” rating and set a $6.00 target price (down from $8.00) on shares of Frontier Group in a report on Tuesday, January 9th. Barclays raised 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. Morgan Stanley restated an “equal weight” rating and set a $8.00 target price (down previously from $10.00) on shares of Frontier Group in a research note on Monday, January 8th. Susquehanna lifted their target price on shares of Frontier Group from $5.00 to $7.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Finally, UBS Group began coverage on shares of Frontier Group in a research note on Wednesday, March 20th. They set a “neutral” rating and a $8.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Frontier Group currently has a consensus rating of “Hold” and a consensus price target of $7.78.

Frontier Group Stock Performance

The business’s fifty day moving average price is $7.17 and its two-hundred day moving average price is $5.71. 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 stock has a market capitalization of $1.34 billion, a P/E ratio of -106.00 and a beta of 2.63.

Insider Transactions at Frontier Group

In other news, CEO Barry Biffle sold 151,620 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $7.72, for a total value of $1,170,506.40. Following the sale, the chief executive officer now directly owns 772,981 shares in the company, valued at approximately $5,967,413.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 81.50% of the company’s stock.

Hedge Funds Weigh In On Frontier Group

Several hedge funds have recently added to or reduced their stakes in the company. Capstone Investment Advisors LLC bought a new position in Frontier Group during the 1st quarter valued at about $350,000. Norden Group LLC bought a new position in Frontier Group during the 1st quarter valued at about $293,000. Simplicity Wealth LLC bought a new position in Frontier Group during the 1st quarter valued at about $204,000. Cruiser Capital Advisors LLC bought a new position in Frontier Group during the 4th quarter valued at about $253,000. Finally, Jade Capital Advisors LLC grew its stake in Frontier Group by 2,400.0% in the 4th quarter. Jade Capital Advisors LLC now owns 500,000 shares of the company’s stock worth $2,730,000 after acquiring an additional 480,000 shares in the last quarter.

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.