Empyrean Capital Partners LP Makes New $4.98 Million Investment in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Empyrean Capital Partners LP acquired a new stake in Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 700,000 shares of the company's stock, valued at approximately $4,977,000. Empyrean Capital Partners LP owned 0.31% of Frontier Group as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Frontier Group in the 4th quarter valued at approximately $32,000. KLP Kapitalforvaltning AS acquired a new position in Frontier Group in the 4th quarter valued at approximately $50,000. Nisa Investment Advisors LLC increased its stake in shares of Frontier Group by 1,230.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company's stock worth $57,000 after purchasing an additional 7,380 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Frontier Group during the 4th quarter worth $96,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Frontier Group during the 4th quarter worth $96,000.

Frontier Group Stock Performance

NASDAQ ULCC traded down $0.16 during midday trading on Wednesday, hitting $4.23. The company had a trading volume of 2,346,254 shares, compared to its average volume of 2,691,225. 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 cap of $963.45 million, a price-to-earnings ratio of 11.75 and a beta of 2.55. The firm has a fifty day simple moving average of $4.22 and a two-hundred day simple moving average of $6.18. Frontier Group Holdings, Inc. has a fifty-two week low of $2.79 and a fifty-two week high of $10.26.

Frontier Group (NASDAQ:ULCC - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.03. The company had revenue of $912.00 million for the quarter, compared to analyst estimates of $996.05 million. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. The business's quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the business posted ($0.09) EPS. Equities analysts forecast that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ULCC has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of Frontier Group from a "buy" rating to a "hold" rating and dropped their price target for the stock from $12.00 to $8.00 in a research note on Tuesday, March 4th. UBS Group dropped their price target on shares of Frontier Group from $7.00 to $4.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Susquehanna dropped their price target on shares of Frontier Group from $9.00 to $3.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Bank of America dropped their price target on shares of Frontier Group from $10.00 to $7.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Finally, Morgan Stanley increased their price target on shares of Frontier Group from $7.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Frontier Group presently has a consensus rating of "Hold" and an average target price of $6.11.

Insiders Place Their Bets

In other news, SVP Alexandre Clerc sold 15,152 shares of Frontier Group stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $6.63, for a total transaction of $100,457.76. Following the sale, the senior vice president now directly owns 23,912 shares in the company, valued at approximately $158,536.56. The trade was a 38.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Howard Diamond sold 87,830 shares of Frontier Group stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $8.77, for a total value of $770,269.10. Following the sale, the executive vice president now directly owns 175,886 shares in the company, valued at $1,542,520.22. The trade was a 33.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 48.00% of the company's stock.

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.