Geode Capital Management LLC Grows Position in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Geode Capital Management LLC grew its position in Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 38.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,590,598 shares of the company's stock after purchasing an additional 441,001 shares during the period. Geode Capital Management LLC owned about 0.71% of Frontier Group worth $8,512,000 at the end of the most recent quarter.

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

Frontier Group Stock Down 1.7 %

Shares of NASDAQ:ULCC traded down $0.12 during trading on Friday, reaching $7.11. 3,191,361 shares of the stock were exchanged, compared to its average volume of 2,991,381. Frontier Group Holdings, Inc. has a 1-year low of $2.79 and a 1-year high of $8.33. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -177.71 and a beta of 2.43. The stock has a fifty day moving average of $6.35 and a two-hundred day moving average of $5.11. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48.

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

Insider Buying and Selling at Frontier Group

In related news, Director Josh T. Connor sold 30,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was 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 of the company's stock, valued at $1,874,397. This represents a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Barry Biffle sold 160,000 shares of the company'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 directly owns 784,817 shares of the company's stock, valued at approximately $5,399,540.96. This represents a 16.93 % decrease in their position. The disclosure for this sale can be found here. Insiders own 81.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ULCC. Morgan Stanley dropped their target price on shares of Frontier Group from $8.00 to $7.00 and set an "equal weight" rating for the company in a research report on Wednesday, December 11th. Susquehanna lifted their price objective on Frontier Group from $5.00 to $6.00 and gave the company a "neutral" rating in a research report on Monday, November 4th. Barclays raised their target price on Frontier Group from $7.00 to $10.00 and gave the company an "overweight" rating in a research note on Thursday, November 14th. Bank of America lowered their price objective on shares of Frontier Group from $5.50 to $5.00 and set a "neutral" rating for the company in a research report on Friday, September 13th. Finally, TD Cowen increased their price target on shares of Frontier Group from $3.00 to $4.00 and gave the company a "hold" rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Frontier Group has a consensus rating of "Hold" and an average price target of $6.46.

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.