101,924 Shares in Frontier Group Holdings, Inc. (NASDAQ:ULCC) Purchased by Blueshift Asset Management LLC

Blueshift Asset Management LLC bought a new position in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 101,924 shares of the company’s stock, valued at approximately $725,000.

A number of other hedge funds have also recently bought and sold shares of ULCC. Rhumbline Advisers increased its stake in Frontier Group by 4.4% in the 4th quarter. Rhumbline Advisers now owns 55,354 shares of the company’s stock worth $394,000 after purchasing an additional 2,334 shares in the last quarter. R Squared Ltd purchased a new position in Frontier Group in the 4th quarter worth about $32,000. Nisa Investment Advisors LLC increased its stake in Frontier Group by 1,230.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock worth $57,000 after purchasing an additional 7,380 shares in the last quarter. Mutual Advisors LLC increased its stake in Frontier Group by 4.5% in the 4th quarter. Mutual Advisors LLC now owns 187,041 shares of the company’s stock worth $1,330,000 after purchasing an additional 8,000 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Frontier Group by 251.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock worth $64,000 after purchasing an additional 8,507 shares in the last quarter.

Insider Activity

In related news, SVP Alexandre Clerc sold 15,152 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $6.63, for a total value of $100,457.76. Following the completion of the sale, the senior vice president now directly owns 23,912 shares in the company, valued at approximately $158,536.56. The trade was a 38.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Barry Biffle sold 160,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $6.88, for a total value of $1,100,800.00. Following the completion of the sale, the chief executive officer now owns 784,817 shares of the company’s stock, valued at approximately $5,399,540.96. This trade represents a 16.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 860,982 shares of company stock worth $6,912,597 in the last three months. 81.50% of the stock is owned by insiders.

Frontier Group Stock Up 0.3 %

Shares of Frontier Group stock opened at $5.96 on Thursday. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 16.56 and a beta of 2.37. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.48. Frontier Group Holdings, Inc. has a 52-week low of $2.79 and a 52-week high of $10.26. The stock has a 50-day simple moving average of $7.84 and a 200-day simple moving average of $6.57.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings results on Friday, February 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.20. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. On average, equities research analysts expect that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ULCC. Barclays lifted their price target on Frontier Group from $10.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. UBS Group lifted their price target on Frontier Group from $6.00 to $8.50 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Susquehanna lifted their price target on Frontier Group from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Morgan Stanley raised their price objective on Frontier Group from $7.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. Finally, Deutsche Bank Aktiengesellschaft lowered Frontier Group from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $12.00 to $8.00 in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $7.74.

Frontier Group Company Profile

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.