Connor Clark & Lunn Investment Management Ltd. Has $6.59 Million Stock Position in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 247.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 926,093 shares of the company's stock after acquiring an additional 659,811 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.41% of Frontier Group worth $6,585,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd bought a new position in shares of Frontier Group during the fourth quarter worth approximately $32,000. Nisa Investment Advisors LLC increased its stake in 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 during the period. Victory Capital Management Inc. bought a new position in Frontier Group during the 3rd quarter worth $54,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Frontier Group by 251.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company's stock valued at $64,000 after acquiring an additional 8,507 shares in the last quarter. Finally, IHT Wealth Management LLC bought a new stake in shares of Frontier Group during the 3rd quarter valued at $71,000.

Frontier Group Price Performance

Shares of ULCC traded up $0.02 during trading hours on Wednesday, reaching $5.96. The stock had a trading volume of 2,097,117 shares, compared to its average volume of 2,195,633. 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 12 month low of $2.79 and a 12 month high of $10.26. The stock has a market capitalization of $1.35 billion, a PE ratio of 16.56 and a beta of 2.37. The company's 50-day moving average is $7.88 and its two-hundred day moving average is $6.57.

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Frontier Group (NASDAQ:ULCC - Get Free Report) last posted its earnings results on Friday, February 7th. The company reported $0.23 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%. Research analysts expect that Frontier Group Holdings, Inc. will post 0.91 EPS for the current year.

Insider Buying and Selling

In other news, CEO Barry Biffle sold 160,000 shares of the firm's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $6.88, for a total transaction of $1,100,800.00. Following the completion of the transaction, the chief executive officer now directly owns 784,817 shares in the company, valued at $5,399,540.96. This trade represents a 16.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Alexandre Clerc sold 15,152 shares of Frontier Group 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 transaction, the senior vice president now directly owns 23,912 shares in the company, valued at approximately $158,536.56. This represents a 38.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 860,982 shares of company stock worth $6,912,597 in the last ninety days. Company insiders own 81.50% of the company's stock.

Wall Street Analyst Weigh In

ULCC has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on Frontier Group from $7.00 to $10.00 and gave the company an "equal weight" rating in a research note on Monday, February 24th. Susquehanna boosted their target price on shares of Frontier Group from $6.00 to $8.00 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lowered shares of Frontier Group from a "buy" rating to a "hold" rating and reduced their price target for the stock from $12.00 to $8.00 in a research report on Tuesday, March 4th. UBS Group boosted their price objective on shares of Frontier Group from $6.00 to $8.50 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. Finally, Barclays raised their target price on Frontier Group from $10.00 to $14.00 and gave the company an "overweight" rating in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $7.74.

Frontier Group 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.