AlTi Global Inc. Decreases Stake in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

AlTi Global Inc. lowered its position in Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 91.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 379,997 shares of the company's stock after selling 3,924,685 shares during the period. AlTi Global Inc. owned approximately 0.17% of Frontier Group worth $2,702,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. R Squared Ltd purchased a new position in shares of Frontier Group during the fourth quarter worth $32,000. KLP Kapitalforvaltning AS purchased a new position in Frontier Group during the fourth quarter valued at approximately $50,000. Nisa Investment Advisors LLC lifted its holdings in Frontier Group by 1,230.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company's stock valued at $57,000 after acquiring an additional 7,380 shares during the period. Aigen Investment Management LP purchased a new stake in Frontier Group in the 4th quarter worth approximately $96,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Frontier Group during the 4th quarter valued at approximately $96,000.

Wall Street Analyst Weigh In

ULCC has been the topic of several analyst reports. 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 report on Monday, April 7th. Deutsche Bank Aktiengesellschaft cut Frontier Group from a "buy" rating to a "hold" rating and cut their price objective for the company from $12.00 to $8.00 in a research report on Tuesday, March 4th. Bank of America decreased their target price on Frontier Group from $10.00 to $7.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. UBS Group reduced their price objective on shares of Frontier Group from $7.00 to $4.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Finally, Citigroup decreased their price target on shares of Frontier Group from $7.25 to $4.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $6.11.

Insider Buying and Selling at Frontier Group

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

Frontier Group Trading Down 2.6 %

Shares of ULCC stock traded down $0.09 on Tuesday, hitting $3.43. 2,893,545 shares of the stock traded hands, compared to its average volume of 2,631,790. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.48 and a current ratio of 0.53. The firm's 50-day moving average price is $4.51 and its two-hundred day moving average price is $6.29. Frontier Group Holdings, Inc. has a twelve month low of $2.79 and a twelve month high of $10.26. The stock has a market capitalization of $780.93 million, a PE ratio of 9.53 and a beta of 2.55.

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