Frontier Group (NASDAQ:ULCC) Shares Gap Up to $6.50

Frontier Group Holdings, Inc. (NASDAQ:ULCC)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $6.50, but opened at $6.69. Frontier Group shares last traded at $6.91, with a volume of 120,587 shares trading hands.

Wall Street Analyst Weigh In

ULCC has been the topic of a number of research analyst reports. TD Cowen lifted their target price on Frontier Group from $5.00 to $12.00 and gave the company a “market perform” rating in a report on Wednesday, February 7th. Evercore ISI raised their price objective on Frontier Group from $7.00 to $8.50 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Bank of America reissued a “neutral” rating and issued a $6.00 price objective (down from $8.00) on shares of Frontier Group in a research report on Tuesday, January 9th. Morgan Stanley reissued an “equal weight” rating and issued a $8.00 price objective (down from $10.00) on shares of Frontier Group in a research report on Monday, January 8th. Finally, Barclays lifted their target price on Frontier Group from $7.00 to $9.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Nine 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.com, the stock presently has a consensus 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 fifty day moving average of $7.37 and a two-hundred day moving average of $5.59.

Insider Buying and Selling at Frontier Group

In other Frontier Group news, CEO Barry Biffle sold 14,500 shares of Frontier Group stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $7.21, for a total value of $104,545.00. Following the completion of the transaction, the chief executive officer now directly owns 63,949 shares in the company, valued at $461,072.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 83.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Frontier Group

Several hedge funds and other institutional investors have recently made changes to their positions in ULCC. Vanguard Group Inc. lifted its position in Frontier Group by 6.1% in the fourth quarter. Vanguard Group Inc. now owns 4,055,487 shares of the company’s stock worth $22,143,000 after purchasing an additional 234,475 shares during the period. Goldman Sachs Group Inc. raised its stake in Frontier Group by 62.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 607,919 shares of the company’s stock valued at $3,319,000 after purchasing an additional 233,584 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Frontier Group by 37.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,264 shares of the company’s stock valued at $128,000 after purchasing an additional 6,289 shares during the period. D L Carlson Investment Group Inc. purchased a new position in shares of Frontier Group during the 4th quarter valued at $136,000. Finally, Barclays PLC grew its holdings in shares of Frontier Group by 323.7% during the 4th quarter. Barclays PLC now owns 61,678 shares of the company’s stock valued at $337,000 after acquiring an additional 47,120 shares in the last quarter.

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.