119,436 Shares in Frontier Group Holdings, Inc. (NASDAQ:ULCC) Bought by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC purchased a new position in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 119,436 shares of the company’s stock, valued at approximately $849,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its position in 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 purchasing an additional 17,558 shares during the period. Barclays PLC boosted its position in Frontier Group by 378.6% during the 3rd quarter. Barclays PLC now owns 72,866 shares of the company’s stock worth $389,000 after purchasing an additional 57,642 shares during the period. Vanguard Group Inc. boosted its position in Frontier Group by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 8,186,633 shares of the company’s stock worth $58,207,000 after purchasing an additional 26,682 shares during the period. American Century Companies Inc. purchased a new stake in Frontier Group during the 4th quarter worth $379,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Frontier Group by 210.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 804,693 shares of the company’s stock worth $5,721,000 after buying an additional 545,485 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ULCC shares. Bank of America cut their price objective on shares of Frontier Group from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Citigroup cut their price objective on shares of Frontier Group from $7.25 to $4.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. UBS Group cut their price objective on shares of Frontier Group from $7.00 to $4.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Barclays cut their price objective on shares of Frontier Group from $14.00 to $10.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, Susquehanna cut their price objective on shares of Frontier Group from $9.00 to $3.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. One 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.11.

Insider Activity

In related news, SVP Alexandre Clerc sold 15,152 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $6.63, for a total transaction of $100,457.76. Following the sale, the senior vice president now owns 23,912 shares in the company, valued at $158,536.56. This represents a 38.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Howard Diamond sold 87,830 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $8.77, for a total transaction of $770,269.10. Following the sale, the executive vice president now owns 175,886 shares in the company, valued at approximately $1,542,520.22. This trade represents a 33.30% decrease in their position. The disclosure for this sale can be found here. Company insiders own 48.00% of the company’s stock.

Frontier Group Stock Performance

Shares of Frontier Group stock opened at $4.23 on Thursday. The firm has a market cap of $963.45 million, a PE ratio of 11.75 and a beta of 2.55. The firm’s 50-day simple moving average is $4.17 and its 200-day simple moving average is $6.17. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.48 and a current ratio of 0.53. Frontier Group Holdings, Inc. has a 1 year low of $2.79 and a 1 year high of $10.26.

Frontier Group (NASDAQ:ULCC) last issued its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.03. The business had revenue of $912.00 million for the quarter, compared to analyst estimates of $996.05 million. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.09) EPS. Equities analysts forecast that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current fiscal year.

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.