Balyasny Asset Management L.P. Has $17.04 Million Holdings in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Balyasny Asset Management L.P. grew its position in Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 31.8% during the 4th 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 purchasing 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.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ULCC. Highland Peak Capital LLC acquired a new position in Frontier Group in the fourth quarter worth approximately $6,492,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Frontier Group by 247.8% during 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 purchasing an additional 659,811 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Frontier Group by 210.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 804,693 shares of the company's stock valued at $5,721,000 after purchasing an additional 545,485 shares during the last quarter. ExodusPoint Capital Management LP boosted its holdings in Frontier Group by 105.3% in the fourth quarter. ExodusPoint Capital Management LP now owns 420,384 shares of the company's stock worth $2,989,000 after purchasing an additional 215,607 shares in the last quarter. Finally, OneDigital Investment Advisors LLC increased its position in Frontier Group by 46.5% during the fourth quarter. OneDigital Investment Advisors LLC now owns 454,003 shares of the company's stock worth $3,228,000 after buying an additional 144,165 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ULCC. Morgan Stanley upped their price target on Frontier Group from $7.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Monday, February 24th. Deutsche Bank Aktiengesellschaft downgraded Frontier Group from a "buy" rating to a "hold" rating and lowered their price target for the company from $12.00 to $8.00 in a report on Tuesday, March 4th. Citigroup reduced their price objective 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. UBS Group lowered their target price 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. Finally, Evercore ISI cut their target price on shares of Frontier Group from $7.00 to $5.00 and set an "in-line" rating for the company in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Frontier Group presently has an average rating of "Hold" and a consensus target price of $6.11.

Insider Activity

In related news, EVP Howard Diamond sold 87,830 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $8.77, for a total value of $770,269.10. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Alexandre Clerc sold 15,152 shares of Frontier Group stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $6.63, for a total value of $100,457.76. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 48.00% of the company's stock.

Frontier Group Stock Performance

Shares of ULCC traded up $0.15 during trading hours on Friday, reaching $3.88. 5,392,648 shares of the company traded hands, compared to its average volume of 2,674,538. Frontier Group Holdings, Inc. has a 1-year low of $2.79 and a 1-year high of $10.26. The stock has a market cap of $883.73 million, a P/E ratio of 10.78 and a beta of 2.55. The stock's fifty day moving average is $4.32 and its 200 day moving average is $6.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.48 and a current ratio of 0.53.

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 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 return on equity of 9.83% and a net margin of 2.25%. Frontier Group's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.09) EPS. Equities research analysts anticipate that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current fiscal year.

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.