Blueshift Asset Management LLC Makes New $725,000 Investment in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Blueshift Asset Management LLC bought a new position in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) 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.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. R Squared Ltd bought a new stake in shares of Frontier Group in the 4th quarter worth approximately $32,000. Victory Capital Management Inc. acquired a new stake in shares of Frontier Group during the 3rd quarter valued at $54,000. Nisa Investment Advisors LLC boosted its stake in shares of Frontier Group by 1,230.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company's stock worth $57,000 after acquiring an additional 7,380 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of 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 acquiring an additional 8,507 shares during the last quarter. Finally, IHT Wealth Management LLC purchased a new position in Frontier Group in the 3rd quarter worth about $71,000.

Analysts Set New Price Targets

Several research analysts have commented on ULCC shares. UBS Group dropped their target price on shares of Frontier Group from $10.00 to $7.00 and set a "neutral" rating on the stock in a research report on Thursday. Susquehanna increased their target price on Frontier Group from $6.00 to $8.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Citigroup reiterated a "neutral" rating and set a $7.25 price target on shares of Frontier Group in a report on Thursday. Deutsche Bank Aktiengesellschaft downgraded 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 report on Tuesday, March 4th. Finally, Morgan Stanley upped their target price 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $7.58.

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Frontier Group Stock Performance

Shares of NASDAQ:ULCC traded up $0.20 during trading on Monday, reaching $5.67. The stock had a trading volume of 2,501,437 shares, compared to its average volume of 2,215,036. The stock has a fifty day simple moving average of $7.68 and a two-hundred day simple moving average of $6.63. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.45. Frontier Group Holdings, Inc. has a 52 week low of $2.79 and a 52 week high of $10.26. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 15.75 and a beta of 2.37.

Frontier Group (NASDAQ:ULCC - Get Free Report) last announced its earnings results on Friday, February 7th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.03 by $0.20. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. As a group, analysts anticipate that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current fiscal year.

Insider Activity at Frontier Group

In related news, CEO Barry Biffle sold 273,000 shares of the company's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $8.44, for a total transaction of $2,304,120.00. Following the completion of the transaction, the chief executive officer now directly owns 816,817 shares in the company, valued at $6,893,935.48. This represents a 25.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Steve Schuller sold 5,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $7.07, for a total transaction of $35,350.00. Following the completion of the sale, the senior vice president now directly owns 47,590 shares of the company's stock, valued at approximately $336,461.30. This trade represents a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 700,982 shares of company stock worth $5,811,797 in the last 90 days. 81.50% of the stock is owned by company insiders.

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.