Highland Peak Capital LLC Makes New $6.49 Million Investment in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Highland Peak Capital LLC bought a new stake in Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 913,110 shares of the company's stock, valued at approximately $6,492,000. Frontier Group makes up 3.6% of Highland Peak Capital LLC's investment portfolio, making the stock its 9th biggest position. Highland Peak Capital LLC owned approximately 0.41% of Frontier Group as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the business. Aigen Investment Management LP purchased a new position in shares of Frontier Group during the fourth quarter valued at $96,000. SBI Securities Co. Ltd. bought a new position in Frontier Group in the 4th quarter worth $96,000. Bank of New York Mellon Corp grew its holdings in Frontier Group by 32.7% in the 4th quarter. Bank of New York Mellon Corp now owns 138,739 shares of the company's stock valued at $986,000 after buying an additional 34,192 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Frontier Group by 4.4% during the 4th quarter. Rhumbline Advisers now owns 55,354 shares of the company's stock worth $394,000 after purchasing an additional 2,334 shares during the period. Finally, Spire Wealth Management bought a new stake in Frontier Group in the 4th quarter valued at $327,000.

Insiders Place Their Bets

In other Frontier Group news, SVP Alexandre Clerc sold 15,152 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $6.63, for a total transaction of $100,457.76. Following the transaction, the senior vice president now owns 23,912 shares of the company's stock, valued at approximately $158,536.56. This trade represents a 38.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Howard Diamond sold 87,830 shares of the business's 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 transaction, 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 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. 81.50% of the stock is owned by corporate insiders.

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Frontier Group Stock Performance

Shares of NASDAQ:ULCC traded down $0.33 during trading on Thursday, hitting $5.75. The stock had a trading volume of 1,939,138 shares, compared to its average volume of 3,040,042. The stock has a 50-day simple moving average of $8.02 and a two-hundred day simple moving average of $6.48. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 15.97 and a beta of 2.37. Frontier Group Holdings, Inc. has a 12-month low of $2.79 and a 12-month high of $10.26.

Frontier Group (NASDAQ:ULCC - Get Free Report) last issued its quarterly 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 return on equity of 9.83% and a net margin of 2.25%. On average, equities research analysts expect that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ULCC has been the subject of several research analyst reports. Susquehanna lifted their price objective on 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 cut shares of Frontier Group from a "buy" rating to a "hold" rating and lowered their price target for the company from $12.00 to $8.00 in a report on Tuesday, March 4th. Barclays raised their price objective on shares of Frontier Group from $10.00 to $14.00 and gave the company an "overweight" rating in a report on Monday, February 10th. 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. Finally, UBS Group lifted their target price on Frontier Group from $6.00 to $8.50 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target 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.