Frontier Group (NASDAQ:ULCC) Stock Falls 6.1% – Here’s What Happened

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s stock price was down 6.1% during trading on Tuesday. The stock traded as low as $7.13 and last traded at $6.9750. 309,398 shares traded hands during trading, a decline of 93% from the average session volume of 4,165,353 shares. The stock had previously closed at $7.43.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Barclays dropped their price target on shares of Frontier Group from $7.00 to $5.00 and set an “underweight” rating for the company in a research note on Friday, September 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Frontier Group in a research report on Wednesday, October 28th. Zacks Research cut Frontier Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. Susquehanna upped their price objective on Frontier Group from $6.00 to $6.50 and gave the company a “neutral” rating in a report on Thursday, October 29th. Finally, UBS Group increased their target price on Frontier Group from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $7.07.

Frontier Group Trading Up 0.4%

The company has a debt-to-equity ratio of 10.68, a current ratio of 0.62 and a quick ratio of 0.57. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -3.98 and a beta of 2.71. The business has a 50 day simple moving average of $5.79 and a 200-day simple moving average of $5.46.

Frontier Group (NASDAQ:ULCC) last announced its earnings results on Wednesday, October 28th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.24. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.29 billion. Frontier Group had a negative net margin of 8.93% and a positive return on equity of 1.35%. The business’s quarterly revenue was up 52.9% on a year-over-year basis. During the same period last year, the company posted ($0.34) EPS. As a group, equities analysts expect that Frontier Group Holdings, Inc. will post -0.33 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Steve Schuller sold 7,500 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $6.00, for a total value of $45,000.00. Following the sale, the senior vice president directly owned 79,675 shares of the company’s stock, valued at approximately $478,050. The trade was a 8.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 48.00% of the company’s stock.

Institutional Trading of Frontier Group

A number of institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new position in shares of Frontier Group in the 2nd quarter valued at about $28,000. Allworth Financial LP acquired a new position in shares of Frontier Group during the 2nd quarter worth approximately $43,000. Legal & General Group Plc bought a new stake in shares of Frontier Group during the 2nd quarter worth approximately $46,000. Signaturefd LLC raised its stake in shares of Frontier Group by 81.7% during the 3rd quarter. Signaturefd LLC now owns 6,020 shares of the company’s stock worth $36,000 after purchasing an additional 2,707 shares in the last quarter. Finally, Atlas Wealth LLC bought a new stake in shares of Frontier Group during the 1st quarter worth approximately $33,000.

Frontier Group Company Profile

Frontier Group Holdings, Inc is the parent company of Frontier Airlines, an ultra-low-cost passenger airline headquartered in Denver, Colorado. The company operates a low-fare, point-to-point air transportation business, primarily serving leisure travelers and price-conscious customers.

Frontier Airlines offers scheduled flights to destinations across the United States, as well as selected locations in the Caribbean and Latin America. Its business model emphasizes low base fares with additional charges for optional services such as checked baggage, seat selection, priority boarding and other travel-related products.

Frontier Airlines traces its roots to 1994 and has expanded its network through a fleet focused largely on Airbus narrow-body aircraft.