80,091 Shares in Frontier Group Holdings, Inc. (NASDAQ:ULCC) Purchased by Dark Forest Capital Management LP

Dark Forest Capital Management LP acquired a new position in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 80,091 shares of the company's stock, valued at approximately $569,000.

Several other large investors have also made changes to their positions in ULCC. R Squared Ltd bought a new stake in shares of Frontier Group during the fourth quarter worth $32,000. KLP Kapitalforvaltning AS bought a new stake in Frontier Group in the fourth quarter worth approximately $50,000. Nisa Investment Advisors LLC boosted its stake 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 in the last quarter. Aigen Investment Management LP bought a new stake in Frontier Group in the fourth quarter valued at $96,000. Finally, SBI Securities Co. Ltd. acquired a new position in Frontier Group during the 4th quarter worth approximately $96,000.

Insider Buying and Selling at Frontier Group

In related news, EVP Howard Diamond sold 87,830 shares of Frontier Group 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 directly owns 175,886 shares of the company's stock, valued at $1,542,520.22. The trade was a 33.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Alexandre Clerc sold 15,152 shares of the company'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 directly owns 23,912 shares of the company's stock, valued at approximately $158,536.56. This trade represents 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.

Wall Street Analyst Weigh In

ULCC has been the topic of several research reports. Susquehanna lowered their price objective 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. Citigroup dropped their price target on Frontier Group from $7.25 to $4.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. 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 research note on Monday, April 7th. Morgan Stanley increased 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. Finally, Bank of America reduced their price objective on shares of Frontier Group from $10.00 to $7.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Frontier Group presently has a consensus rating of "Hold" and a consensus price target of $6.11.

Frontier Group Price Performance

ULCC traded up $0.16 on Thursday, reaching $3.14. The company had a trading volume of 2,006,054 shares, compared to its average volume of 2,585,576. The business has a 50 day simple moving average of $4.85 and a 200 day simple moving average of $6.37. The company has a market cap of $713.77 million, a price-to-earnings ratio of 8.71 and a beta of 2.52. Frontier Group Holdings, Inc. has a 52-week low of $2.79 and a 52-week high of $10.26. 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 Friday, February 7th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.03 by $0.20. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. As a group, sell-side analysts anticipate that Frontier Group Holdings, Inc. will post 0.91 EPS for the current 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.