Ancient Art L.P. Lowers Holdings in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Ancient Art L.P. lessened its holdings in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 28.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,416,221 shares of the company's stock after selling 2,111,500 shares during the period. Frontier Group accounts for approximately 8.2% of Ancient Art L.P.'s investment portfolio, making the stock its 6th biggest position. Ancient Art L.P. owned about 2.40% of Frontier Group worth $38,509,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ULCC. Barclays PLC boosted its stake in shares of Frontier Group by 378.6% during the 3rd quarter. Barclays PLC now owns 72,866 shares of the company's stock worth $389,000 after buying an additional 57,642 shares during the last quarter. Geode Capital Management LLC increased its holdings in Frontier Group by 38.4% in the 3rd 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. Virtu Financial LLC purchased a new stake in Frontier Group in the third quarter worth about $145,000. Nisa Investment Advisors LLC grew its holdings in Frontier Group by 1,230.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company's stock worth $57,000 after acquiring an additional 7,380 shares during the period. Finally, Mutual Advisors LLC increased its position in shares of Frontier Group by 4.5% during the 4th quarter. Mutual Advisors LLC now owns 187,041 shares of the company's stock worth $1,330,000 after purchasing an additional 8,000 shares during the last quarter.

Insider Activity

In related news, SVP Alexandre Clerc sold 15,152 shares of the business's 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 transaction, the senior vice president now owns 23,912 shares in the company, valued at $158,536.56. The trade was a 38.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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. This trade represents a 33.30 % decrease in their position. The disclosure for this sale can be found here. 48.00% of the stock is currently owned by company insiders.

Frontier Group Stock Performance

ULCC stock traded up $0.36 on Thursday, hitting $3.85. The company had a trading volume of 2,689,307 shares, compared to its average volume of 2,640,481. The stock has a market cap of $876.56 million, a price-to-earnings ratio of 10.69 and a beta of 2.55. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45. The stock's 50-day simple moving average is $4.44 and its 200 day simple moving average is $6.27. Frontier Group Holdings, Inc. has a 12-month low of $2.79 and a 12-month high of $10.26.

Frontier Group (NASDAQ:ULCC - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.03. The firm had revenue of $912.00 million during 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%. Frontier Group's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. As a group, equities research analysts expect that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ULCC. Morgan Stanley boosted their target price on Frontier Group from $7.00 to $10.00 and gave the stock an "equal weight" rating in a report on Monday, February 24th. 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 report on Tuesday, March 4th. Barclays lowered their price target on Frontier Group from $14.00 to $10.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. UBS Group reduced their target price on shares of Frontier Group from $7.00 to $4.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Finally, Evercore ISI lowered their price objective on Frontier Group from $7.00 to $5.00 and set an "in-line" rating for the company in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Frontier Group has an average rating of "Hold" and a consensus target price of $6.11.

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.