Frontier Group (NASDAQ:ULCC) Shares Down 4.2% on Insider Selling
Frontier Group (NASDAQ:ULCC) shares fell 4.2% to $3.80 following insider selling by SVP Alexandre Clerc, who sold 12,000 shares at $3.89. The stock's trading volume dropped 85% from its average. Analysts have lowered price targets, with Barclays at $10, Evercore ISI at $5, and Deutsche Bank at $8. The company reported a net margin of 2.25% and revenue of $912 million for the last quarter, missing expectations. Hedge funds have increased their holdings in the stock, which has a market cap of $880.31 million and a P/E ratio of 10.71.
Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) dropped 4.2% during trading on Thursday following insider selling activity. The stock traded as low as $3.82 and last traded at $3.80. Approximately 428,810 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 2,775,258 shares. The stock had previously closed at $3.96.
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Specifically, SVP Alexandre Clerc sold 12,000 shares of Frontier Group stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $3.89, for a total value of $46,680.00. Following the completion of the sale, the senior vice president now directly owns 11,912 shares in the company, valued at $46,337.68. This trade represents a 50.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Analyst Ratings Changes
A number of research firms have issued reports on ULCC. Barclays decreased their price target on shares of Frontier Group from $14.00 to $10.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Evercore ISI lowered their price target on Frontier Group from $7.00 to $5.00 and set an "in-line" rating for the company in a research report on Friday, April 11th. Morgan Stanley dropped their price target on Frontier Group from $10.00 to $9.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Susquehanna reduced their price objective on Frontier Group from $9.00 to $3.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Finally, Deutsche Bank Aktiengesellschaft lowered Frontier Group from a "buy" rating to a "hold" rating and dropped their target price for the company from $12.00 to $8.00 in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Frontier Group currently has a consensus rating of "Hold" and a consensus price target of $6.00.
Read Our Latest Research Report on Frontier Group
Frontier Group Stock Performance
The firm has a fifty day moving average of $3.67 and a 200 day moving average of $5.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.48. The stock has a market capitalization of $880.31 million, a price-to-earnings ratio of 10.71 and a beta of 2.67.
Frontier Group (NASDAQ:ULCC - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, topping analysts' consensus estimates of ($0.22) by $0.03. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. The business had revenue of $912.00 million for the quarter, compared to analysts' expectations of $996.05 million. During the same quarter last year, the company earned ($0.09) EPS. The business's revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Legal & General Group Plc raised its holdings in shares of Frontier Group by 54.4% during the 4th quarter. Legal & General Group Plc now owns 49,832 shares of the company's stock worth $354,000 after acquiring an additional 17,558 shares during the period. Barclays PLC lifted its holdings in Frontier Group by 12.1% during the 4th quarter. Barclays PLC now owns 81,710 shares of the company's stock worth $581,000 after buying an additional 8,844 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Frontier Group by 210.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 804,693 shares of the company's stock valued at $5,721,000 after purchasing an additional 545,485 shares during the period. Vanguard Group Inc. grew its position in shares of Frontier Group by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 8,186,633 shares of the company's stock worth $58,207,000 after buying an additional 26,682 shares in the last quarter. Finally, American Century Companies Inc. purchased a new stake in shares of Frontier Group in the 4th quarter valued at approximately $379,000.
About Frontier Group
(Get Free Report)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.
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