Aigen Investment Management LP Boosts Stock Holdings 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 boosted its holdings in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 645.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,358 shares of the company's stock after acquiring an additional 86,896 shares during the period. Aigen Investment Management LP's holdings in Frontier Group were worth $436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Frontier Group by 71.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,061 shares of the company's stock valued at $78,000 after buying an additional 7,546 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Frontier Group by 54.4% in the 4th quarter. Legal & General Group Plc now owns 49,832 shares of the company's stock valued at $354,000 after buying an additional 17,558 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Frontier Group by 8.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,359 shares of the company's stock valued at $536,000 after buying an additional 5,834 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 buying an additional 545,485 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Frontier Group by 12.1% in the 4th quarter. Barclays PLC now owns 81,710 shares of the company's stock valued at $581,000 after buying an additional 8,844 shares in the last quarter.

Frontier Group Stock Performance

ULCC traded up $0.09 during trading on Friday, reaching $4.52. 4,809,266 shares of the company's stock were exchanged, compared to its average volume of 4,856,589. Frontier Group Holdings, Inc. has a 1 year low of $2.89 and a 1 year high of $10.26. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.41 and a quick ratio of 0.36. The stock has a market capitalization of $1.03 billion, a P/E ratio of -28.25 and a beta of 2.62. The company's fifty day simple moving average is $3.95 and its 200-day simple moving average is $4.82.

Frontier Group (NASDAQ:ULCC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.03). Frontier Group had a negative return on equity of 12.56% and a negative net margin of 0.87%. The business had revenue of $929.00 million for the quarter, compared to analysts' expectations of $951.92 million. During the same period in the prior year, the business posted $0.14 earnings per share. The business's quarterly revenue was down 4.5% compared to the same quarter last year. As a group, research analysts predict that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Bank of America lowered their price target on shares of Frontier Group from $4.75 to $4.00 and set a "neutral" rating on the stock in a report on Tuesday, July 1st. UBS Group decreased their price objective on shares of Frontier Group from $4.00 to $3.50 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Finally, Morgan Stanley decreased 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. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Frontier Group currently has a consensus rating of "Hold" and a consensus price target of $5.61.

Insider Transactions at Frontier Group

In other Frontier Group news, SVP Alexandre Clerc sold 12,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were 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 directly owned 11,912 shares of the company's stock, valued at approximately $46,337.68. This trade represents a 50.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 48.00% of the company's stock.

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.