Aigen Investment Management LP Grows Stake in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Key Points

• Aigen Investment Management LP increased its holdings in Frontier Group Holdings by 645.5%, acquiring an additional 86,896 shares this quarter to reach a total of 100,358 shares, valued at approximately $436,000.
• Various institutional investors also boosted their stakes, including Wealth Enhancement Advisory Services and Dimensional Fund Advisors, with increases of 71.8% and 210.4% respectively.
• Following recent analyses, several firms have cut their price targets for Frontier Group, with a consensus target now at $5.61, and the stock currently rated as a "Hold" by nine research analysts.

Aigen Investment Management LP grew its holdings in Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 645.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 100,358 shares of the company's stock after acquiring an additional 86,896 shares during the quarter. Aigen Investment Management LP's holdings in Frontier Group were worth $436,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Byrne Asset Management LLC bought a new stake in Frontier Group during the first quarter worth about $35,000. Victory Capital Management Inc. bought a new stake in Frontier Group during the first quarter worth about $76,000. Kapitalo Investimentos Ltda bought a new stake in Frontier Group during the first quarter worth about $77,000. Wealth Enhancement Advisory Services LLC lifted its position in Frontier Group by 71.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,061 shares of the company's stock worth $78,000 after purchasing an additional 7,546 shares during the period. Finally, ProShare Advisors LLC bought a new stake in Frontier Group during the fourth quarter worth about $84,000.

Frontier Group Trading Up 2.0%

ULCC stock traded up $0.09 during midday trading on Friday, hitting $4.52. The company had a trading volume of 4,809,266 shares, compared to its average volume of 3,793,015. The company has a current ratio of 0.41, a quick ratio of 0.36 and a debt-to-equity ratio of 0.53. Frontier Group Holdings, Inc. has a 52 week low of $2.89 and a 52 week high of $10.26. The stock's 50 day moving average price is $3.94 and its 200 day moving average price is $4.86. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -28.25 and a beta of 2.62.

Frontier Group (NASDAQ:ULCC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.03). Frontier Group had a negative net margin of 0.87% and a negative return on equity of 12.56%. The company had revenue of $929.00 million during the quarter, compared to the consensus estimate of $951.92 million. During the same quarter in the previous year, the firm posted $0.14 EPS. The business's revenue for the quarter was down 4.5% compared to the same quarter last year. 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 Ratings Changes

Several research firms recently weighed in on ULCC. Morgan Stanley cut their price objective on shares of Frontier Group from $10.00 to $9.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. UBS Group dropped their target price on shares of Frontier Group from $4.00 to $3.50 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Finally, Bank of America dropped their target price on shares of Frontier Group from $4.75 to $4.00 and set a "neutral" rating for the company in a report on Tuesday, July 1st. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Frontier Group presently has a consensus rating of "Hold" and a consensus price target of $5.61.

Insider Activity at Frontier Group

In related news, SVP Alexandre Clerc sold 12,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $3.89, for a total transaction of $46,680.00. Following the completion of the transaction, the senior vice president owned 11,912 shares in the company, valued at $46,337.68. This represents a 50.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 48.00% of the stock is currently owned by corporate insiders.

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.