Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Frontier Group Holdings Inc. shares valued at $371,795 were sold by Shurz Daniel M. on Aug 15. At $15.07 per share, Shurz Daniel M. sold 24,663 shares. The insider’s holdings dropped to 38,959 shares worth approximately $0.44 million following the completion of this transaction.
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Also, Filene Jacob F. sold 8,000 shares, netting a total of over 120,000 in proceeds. Following the sale of shares at $15.00 each, the insider now holds 77,122 shares.
Before that, Wetzel Josh A had sold 1,250 shares from its account. In a trade valued at $17,401, the VP & CAO traded Frontier Group Holdings Inc. shares for $13.92 each. Upon closing the transaction, the insider’s holdings decreased to 1,250 shares, worth approximately $8763.75.
As published in a research note from Raymond James on September 08, 2022, Frontier Group Holdings Inc. [ULCC] has been rated down from an Outperform to a Mkt perform.
Analyzing ULCC’s Price Performance
On Wednesday, Frontier Group Holdings Inc. [NASDAQ: ULCC] plunged -4.66% to $11.25. The stock’s lowest price that day was $11.23, but it reached a high of $11.76 in the same session. During the last five days, there has been a drop of approximately -11.63%. Over the course of the year, Frontier Group Holdings Inc. shares have dropped approximately -17.10%. Shares of the company reached a 52-week high of $15.25 on 08/15/22 and a 52-week low of $8.19 on 05/12/22. A 50-day SMA is recorded $12.79, while a 200-day SMA reached $11.91. Nevertheless, trading volume fell to 1.53 million shares from 0.79 million shares the previous day.
Support And Resistance Levels for Frontier Group Holdings Inc. (ULCC)
According to the 24-hour chart, there is a support level at 11.07, which, if violated, would cause prices to drop to 10.88. In the upper region, resistance lies at 11.60. The next price resistance is at 11.94. RSI (Relative Strength Index) is 35.65 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.74, which suggests the price will decrease in the coming days. Percent R is at 99.07%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Frontier Group Holdings Inc. subject to short interest?
Stocks of Frontier Group Holdings Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -6.66 million shares to 8.86 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 15.52 million shares. A decline of -75.17% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.48 of the overall float, the days-to-cover ratio (short ratio) decline to 3.48.
Which companies own the most shares of Frontier Group Holdings Inc. (ULCC)?
According to US Global Investors, Inc. filings, the company currently owns 8,631,772 shares, which is about 3.97% of the total ULCC shares outstanding. With the completion of the buy transaction, Ancient Art LP’s stake is now worth $65,880,197. PAR Capital Management, Inc. acquire a 3.99% interest valued at $39.01 million while The Vanguard Group, Inc. purchased a 36,405 stake. A total of 1,938,222 shares of Frontier Group Holdings Inc. were bought by T. Rowe Price Associates, Inc. during the quarter, and 650,376 were bought by BlackRock Fund Advisors. In its current portfolio, UBS Asset Management holds 2,346,096 shares valued at $30.26 million.
In terms of Frontier Group Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $17.91 in the next 12 months, up nearly 61.02% from the previous closing price of $11.80. Analysts anticipate Frontier Group Holdings Inc. stock to reach $20.00 by 2022, with the lowest price target being $13.00. In spite of this, 12 analysts ranked Frontier Group Holdings Inc. stock as a Buy at the end of 2022. On June 23, 2022, Raymond James assigned a price target of “an Outperform” to the stock and upgraded coverage with a $14.