Frontier Group (NASDAQ:ULCC) Cut to Hold at Deutsche Bank Aktiengesellschaft

Frontier Group (NASDAQ:ULCC) was downgraded by Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Marketbeat reports. They currently have a $6.00 target price on the stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential downside of 5.66% from the company’s previous close.

A number of other analysts have also recently weighed in on ULCC. Susquehanna upped their price target on shares of Frontier Group from $4.00 to $5.00 and gave the stock a “neutral” rating in a research report on Friday, January 9th. UBS Group restated a “neutral” rating and set a $6.00 price objective (up from $4.00) on shares of Frontier Group in a report on Friday, December 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Frontier Group in a research report on Monday, December 29th. Citigroup assumed coverage on shares of Frontier Group in a research report on Thursday, December 4th. They set a “neutral” rating and a $5.00 price target on the stock. Finally, Bank of America reaffirmed an “underperform” rating and issued a $4.00 price objective (down previously from $5.00) on shares of Frontier Group in a report on Tuesday, January 6th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $6.13.

Frontier Group Price Performance

Frontier Group stock opened at $6.36 on Tuesday. Frontier Group has a 1 year low of $2.89 and a 1 year high of $10.26. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.36 and a current ratio of 0.40. The firm has a 50 day moving average price of $5.15 and a 200 day moving average price of $4.66. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -10.43 and a beta of 2.55.

Insider Activity

In other news, SVP Steve Schuller sold 5,000 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $6.00, for a total value of $30,000.00. Following the completion of the sale, the senior vice president directly owned 94,926 shares of the company’s stock, valued at $569,556. This represents a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Barry Biffle sold 100,000 shares of Frontier Group stock in a transaction on Monday, December 8th. The shares were sold at an average price of $5.54, for a total transaction of $554,000.00. Following the sale, the chief executive officer directly owned 731,836 shares of the company’s stock, valued at $4,054,371.44. This trade represents a 12.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 310,000 shares of company stock worth $1,700,444. Company insiders own 48.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ULCC. Balyasny Asset Management L.P. bought a new position in shares of Frontier Group in the second quarter worth about $5,387,000. Jump Financial LLC bought a new stake in shares of Frontier Group in the second quarter valued at approximately $4,190,000. Bank of America Corp DE grew its stake in shares of Frontier Group by 39.2% in the third quarter. Bank of America Corp DE now owns 3,027,309 shares of the company’s stock worth $13,366,000 after acquiring an additional 852,798 shares during the last quarter. Wolf Hill Capital Management LP bought a new position in Frontier Group during the third quarter worth $2,519,000. Finally, Millennium Management LLC raised its stake in Frontier Group by 200.0% during the 3rd quarter. Millennium Management LLC now owns 778,837 shares of the company’s stock valued at $3,439,000 after purchasing an additional 519,247 shares during the last quarter.

About Frontier Group

Frontier Group, trading on Nasdaq under the ticker ULCC, is the holding company for Frontier Airlines, an ultra-low-cost carrier based in Denver, Colorado. The company’s core business centers on providing no-frills air travel across a point-to-point network while generating ancillary revenue from add-on services such as baggage fees, seat selection, priority boarding and in-flight refreshments. This fare-plus-a-la-carte model allows Frontier to offer competitive base fares and maintain low operating costs.

Founded in February 1994 by industry veterans Andrew Levy and Russell Beardsmore, Frontier Airlines commenced operations with a small fleet of MD-80 aircraft.