Balyasny Asset Management L.P. Grows Stock Position in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Balyasny Asset Management L.P. lifted its holdings in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 31.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,396,885 shares of the company's stock after buying an additional 578,151 shares during the period. Balyasny Asset Management L.P. owned about 1.06% of Frontier Group worth $17,042,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Frontier Group by 8.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,442 shares of the company's stock worth $217,000 after purchasing an additional 2,296 shares during the period. Rhumbline Advisers lifted its holdings in shares of Frontier Group by 4.4% during the fourth quarter. Rhumbline Advisers now owns 55,354 shares of the company's stock worth $394,000 after purchasing an additional 2,334 shares during the period. R Squared Ltd acquired a new position in shares of Frontier Group during the fourth quarter worth $32,000. KLP Kapitalforvaltning AS acquired a new position in Frontier Group in the fourth quarter valued at $50,000. Finally, 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 buying an additional 7,380 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Barclays dropped their target price on shares of Frontier Group from $14.00 to $10.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Bank of America dropped their target price on shares of Frontier Group from $10.00 to $7.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. UBS Group dropped their target price on shares of Frontier Group from $7.00 to $4.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Morgan Stanley lifted their price target on shares of Frontier Group from $7.00 to $10.00 and gave the company an "equal weight" rating in a research note on Monday, February 24th. Finally, Citigroup decreased their price target on shares of Frontier Group from $7.25 to $4.00 and set a "neutral" 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 data from MarketBeat.com, Frontier Group presently has an average rating of "Hold" and a consensus price target of $6.11.

Insiders Place Their Bets

In other 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 value of $770,269.10. Following the transaction, the executive vice president now owns 175,886 shares of the company's stock, valued at $1,542,520.22. This represents a 33.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Alexandre Clerc sold 15,152 shares of the stock in a transaction on Friday, March 7th. The stock was 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 in the company, valued at $158,536.56. The trade was a 38.79% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 48.00% of the company's stock.

Frontier Group Stock Performance

ULCC traded up $0.22 during midday trading on Tuesday, reaching $4.38. The company had a trading volume of 1,475,230 shares, compared to its average volume of 2,677,421. 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 stock has a market cap of $997.61 million, a PE ratio of 12.17 and a beta of 2.55. Frontier Group Holdings, Inc. has a 12-month low of $2.79 and a 12-month high of $10.26. The business has a 50-day moving average price of $4.27 and a two-hundred day moving average price of $6.20.

Frontier Group (NASDAQ:ULCC - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.03. The company had revenue of $912.00 million for the quarter, compared to analysts' expectations of $996.05 million. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. Frontier Group's revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.09) EPS. On average, sell-side analysts expect that Frontier Group Holdings, Inc. will post 0.91 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.