Fmr LLC Cuts Stake in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

FMR LLC decreased its holdings in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 82.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,412 shares of the company's stock after selling 155,227 shares during the period. FMR LLC's holdings in Frontier Group were worth $179,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Arizona State Retirement System increased its holdings in shares of Frontier Group by 29.0% in the 2nd quarter. Arizona State Retirement System now owns 15,672 shares of the company's stock valued at $77,000 after purchasing an additional 3,521 shares in the last quarter. Rhumbline Advisers increased its holdings in Frontier Group by 2.3% in the second quarter. Rhumbline Advisers now owns 160,070 shares of the company's stock valued at $789,000 after buying an additional 3,543 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Frontier Group by 41.2% during the 3rd quarter. Blue Trust Inc. now owns 12,828 shares of the company's stock valued at $63,000 after acquiring an additional 3,744 shares during the period. XTX Topco Ltd boosted its stake in shares of Frontier Group by 10.6% during the 2nd quarter. XTX Topco Ltd now owns 41,103 shares of the company's stock worth $203,000 after acquiring an additional 3,936 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Frontier Group by 27.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,970 shares of the company's stock worth $98,000 after acquiring an additional 4,279 shares during the period.

Wall Street Analyst Weigh In

ULCC has been the subject of several research reports. Deutsche Bank Aktiengesellschaft raised Frontier Group from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $6.00 to $8.00 in a report on Wednesday, December 11th. TD Cowen boosted their price objective on shares of Frontier Group from $3.00 to $4.00 and gave the stock a "hold" rating in a research report on Monday, September 16th. Bank of America lowered their price objective on shares of Frontier Group from $5.50 to $5.00 and set a "neutral" rating on the stock in a research note on Friday, September 13th. Citigroup lifted their target price on shares of Frontier Group from $4.70 to $7.15 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. Finally, Evercore ISI increased their price target on shares of Frontier Group from $4.00 to $5.00 and gave the company an "in-line" rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $6.46.

Frontier Group Trading Up 5.0 %

Shares of NASDAQ:ULCC traded up $0.32 during trading on Friday, reaching $6.75. The stock had a trading volume of 3,812,050 shares, compared to its average volume of 2,177,905. Frontier Group Holdings, Inc. has a fifty-two week low of $2.79 and a fifty-two week high of $8.33. The business has a fifty day moving average price of $6.24 and a 200-day moving average price of $5.00. The stock has a market cap of $1.52 billion, a P/E ratio of -168.71 and a beta of 2.43. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57.

Frontier Group (NASDAQ:ULCC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.03). The business had revenue of $935.00 million during the quarter, compared to the consensus estimate of $943.30 million. The firm's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.14) earnings per share. As a group, analysts anticipate that Frontier Group Holdings, Inc. will post 0.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Frontier Group news, Director Josh T. Connor sold 30,000 shares of Frontier Group stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total value of $172,200.00. Following the transaction, the director now owns 326,550 shares in the company, valued at $1,874,397. This trade represents a 8.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Steve Schuller sold 10,000 shares of the business's stock in a transaction on Friday, October 4th. The shares were sold at an average price of $6.00, for a total transaction of $60,000.00. Following the sale, the senior vice president now directly owns 34,035 shares of the company's stock, valued at $204,210. This represents a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 81.50% of the stock is owned by corporate 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.