AlTi Global Inc. Trims Stock Position in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

AlTi Global Inc. cut its stake in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 91.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 379,997 shares of the company's stock after selling 3,924,685 shares during the period. AlTi Global Inc. owned about 0.17% of Frontier Group worth $2,702,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Highland Peak Capital LLC bought a new position in Frontier Group in the 4th quarter worth approximately $6,492,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Frontier Group by 247.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 926,093 shares of the company's stock valued at $6,585,000 after acquiring an additional 659,811 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Frontier Group by 210.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 804,693 shares of the company's stock worth $5,721,000 after purchasing an additional 545,485 shares in the last quarter. ExodusPoint Capital Management LP boosted its holdings in shares of Frontier Group by 105.3% during the 4th quarter. ExodusPoint Capital Management LP now owns 420,384 shares of the company's stock valued at $2,989,000 after purchasing an additional 215,607 shares during the last quarter. Finally, OneDigital Investment Advisors LLC increased its holdings in shares of Frontier Group by 46.5% in the fourth quarter. OneDigital Investment Advisors LLC now owns 454,003 shares of the company's stock worth $3,228,000 after purchasing an additional 144,165 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ULCC. Morgan Stanley upped their price objective on Frontier Group from $7.00 to $10.00 and gave the stock an "equal weight" rating in a report on Monday, February 24th. Susquehanna reduced their target price on shares of Frontier Group from $9.00 to $3.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. UBS Group lowered their price target on shares of Frontier Group from $7.00 to $4.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Deutsche Bank Aktiengesellschaft downgraded Frontier Group from a "buy" rating to a "hold" rating and decreased their price objective for the company from $12.00 to $8.00 in a research report on Tuesday, March 4th. Finally, Citigroup lowered their price target on Frontier Group from $7.25 to $4.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $6.11.

Insider Activity

In other Frontier Group news, EVP Howard Diamond sold 87,830 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $8.77, for a total value of $770,269.10. Following the completion of the sale, the executive vice president now owns 175,886 shares of the company's stock, valued at approximately $1,542,520.22. This trade represents a 33.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Alexandre Clerc sold 15,152 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $6.63, for a total transaction of $100,457.76. Following the completion of the transaction, the senior vice president now directly owns 23,912 shares of the company's stock, valued at $158,536.56. The trade was a 38.79 % 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 Stock Up 3.2 %

Shares of ULCC stock traded up $0.12 on Friday, hitting $3.85. The stock had a trading volume of 3,718,248 shares, compared to its average volume of 2,656,011. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.45. Frontier Group Holdings, Inc. has a one year low of $2.79 and a one year high of $10.26. The business has a 50 day moving average price of $4.38 and a 200 day moving average price of $6.25. The company has a market cap of $876.56 million, a PE ratio of 10.69 and a beta of 2.55.

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

Frontier Group Company 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.