Spire Wealth Management Acquires Shares of 45,950 Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Spire Wealth Management bought a new position in Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 45,950 shares of the company's stock, valued at approximately $327,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. U S Global Investors Inc. lifted its position in Frontier Group by 71.4% during the third quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company's stock valued at $40,473,000 after purchasing an additional 3,150,768 shares during the period. Verition Fund Management LLC grew its holdings in shares of Frontier Group by 235.7% in the third quarter. Verition Fund Management LLC now owns 646,243 shares of the company's stock worth $3,457,000 after acquiring an additional 453,736 shares during the period. Geode Capital Management LLC increased its position in Frontier Group by 38.4% during the third quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company's stock valued at $8,512,000 after acquiring an additional 441,001 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Frontier Group by 81.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company's stock valued at $3,205,000 after acquiring an additional 269,221 shares during the period. Finally, Jade Capital Advisors LLC boosted its position in Frontier Group by 624.3% in the third quarter. Jade Capital Advisors LLC now owns 249,436 shares of the company's stock worth $1,334,000 after purchasing an additional 215,000 shares during the last quarter.

Insider Activity

In other Frontier Group news, Director Josh T. Connor sold 30,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total transaction of $172,200.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Barry Biffle sold 273,000 shares of the firm's stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $8.44, for a total value of $2,304,120.00. Following the transaction, the chief executive officer now owns 816,817 shares of the company's stock, valued at approximately $6,893,935.48. The trade was a 25.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 788,000 shares of company stock worth $6,214,070 over the last quarter. Insiders own 81.50% of the company's stock.

Analysts Set New Price Targets

ULCC has been the subject of several research reports. Barclays upped their price target on shares of Frontier Group from $10.00 to $14.00 and gave the company an "overweight" rating in a research report on Monday. Susquehanna increased their price target on shares of Frontier Group from $6.00 to $8.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 7th. UBS Group lifted their price target on shares of Frontier Group from $6.00 to $8.50 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. Citigroup upped their price objective on Frontier Group from $4.70 to $7.15 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. Finally, Morgan Stanley lowered their target price on Frontier Group from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $7.41.

Frontier Group Price Performance

ULCC stock traded up $0.72 during trading on Monday, reaching $10.06. The company's stock had a trading volume of 4,621,007 shares, compared to its average volume of 2,707,340. The company's fifty day moving average is $7.53 and its 200-day moving average is $5.84. Frontier Group Holdings, Inc. has a 1 year low of $2.79 and a 1 year high of $10.26. The company has a market capitalization of $2.27 billion, a P/E ratio of -251.44 and a beta of 2.35. 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 earnings results on Friday, February 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.20. On average, research analysts expect that Frontier Group Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

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.