Frontier Group Holdings, Inc. (NASDAQ:ULCC) Shares Bought by U S Global Investors Inc.

U S Global Investors Inc. raised its holdings in Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 71.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,564,954 shares of the company's stock after acquiring an additional 3,150,768 shares during the quarter. Frontier Group comprises 3.9% of U S Global Investors Inc.'s portfolio, making the stock its 6th largest position. U S Global Investors Inc. owned approximately 3.37% of Frontier Group worth $40,473,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. bought a new position in shares of Frontier Group during the second quarter worth $45,000. nVerses Capital LLC boosted its position in shares of Frontier Group by 152.5% during the second quarter. nVerses Capital LLC now owns 10,100 shares of the company's stock worth $50,000 after purchasing an additional 6,100 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in shares of Frontier Group during the second quarter worth $58,000. Arizona State Retirement System boosted its position in shares of Frontier Group by 29.0% during the second quarter. Arizona State Retirement System now owns 15,672 shares of the company's stock worth $77,000 after purchasing an additional 3,521 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of 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 purchasing an additional 4,279 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ULCC. Citigroup lifted their price target on shares of Frontier Group from $4.70 to $7.15 and gave the stock a "neutral" rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Frontier Group from $5.00 to $4.00 and set a "hold" rating on the stock in a research report on Friday, August 9th. Barclays dropped their price objective on shares of Frontier Group from $7.00 to $6.00 and set an "overweight" rating on the stock in a report on Monday, August 12th. Evercore ISI raised their price objective on shares of Frontier Group from $4.00 to $5.00 and gave the stock an "in-line" rating in a report on Thursday, October 3rd. Finally, Susquehanna raised their price objective on shares of Frontier Group from $3.00 to $5.00 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. 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.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $6.02.

Frontier Group Stock Performance

Shares of ULCC traded down $0.19 during midday trading on Tuesday, reaching $6.72. The stock had a trading volume of 1,269,332 shares, compared to its average volume of 2,075,591. The firm has a 50 day simple moving average of $4.52 and a 200-day simple moving average of $4.98. Frontier Group Holdings, Inc. has a one year low of $2.79 and a one year high of $8.33. The firm has a market cap of $1.50 billion, a PE ratio of -56.00 and a beta of 2.55. The company has a current ratio of 0.52, a quick ratio of 0.48 and a debt-to-equity ratio of 0.43.

Frontier Group (NASDAQ:ULCC - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $973.00 million during the quarter, compared to the consensus estimate of $1.03 billion. Frontier Group had a negative net margin of 1.77% and a negative return on equity of 4.09%. Frontier Group's revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 EPS. As a group, sell-side analysts anticipate that Frontier Group Holdings, Inc. will post 0.08 EPS for the current year.

Insider Buying and Selling at Frontier Group

In other Frontier Group news, SVP Steve Schuller sold 10,000 shares of the business's stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $6.00, for a total value of $60,000.00. Following the completion of the sale, the senior vice president now owns 34,035 shares of the company's stock, valued at $204,210. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 81.50% of the company's stock.

About Frontier Group

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.