Ancient Art L.P. Sells 885,388 Shares of Frontier Group Holdings, Inc. $ULCC

Key Points

• Ancient Art L.P. reduced its stake in Frontier Group Holdings, Inc. by 16.3% during the first quarter, selling 885,388 shares and now holding about 4.5 million shares valued at approximately $19.66 million.
• Frontier Group's shares recently traded at $5.61, a significant increase of 14.5%, while showing a 52-week range between $2.89 and $10.26.
• In their latest earnings report, Frontier Group posted an EPS of ($0.31), missing expectations, and reported a revenue of $929 million, which was below the anticipated $951.92 million.

Ancient Art L.P. trimmed its holdings in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 16.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,530,833 shares of the company's stock after selling 885,388 shares during the quarter. Frontier Group accounts for approximately 5.8% of Ancient Art L.P.'s portfolio, making the stock its 7th biggest position. Ancient Art L.P. owned about 1.99% of Frontier Group worth $19,664,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Voloridge Investment Management LLC increased its stake in Frontier Group by 835.6% during the fourth quarter. Voloridge Investment Management LLC now owns 1,702,008 shares of the company's stock worth $12,101,000 after purchasing an additional 1,520,094 shares during the period. Two Sigma Investments LP raised its holdings in Frontier Group by 488.9% during the fourth quarter. Two Sigma Investments LP now owns 980,426 shares of the company's stock worth $6,971,000 after purchasing an additional 813,929 shares in the last quarter. American Century Companies Inc. lifted its position in Frontier Group by 1,353.6% in the first quarter. American Century Companies Inc. now owns 774,988 shares of the company's stock valued at $3,363,000 after acquiring an additional 721,674 shares during the last quarter. Empyrean Capital Partners LP purchased a new stake in shares of Frontier Group in the 4th quarter valued at about $4,977,000. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Frontier Group by 31.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,396,885 shares of the company's stock valued at $17,042,000 after acquiring an additional 578,151 shares during the period.

Frontier Group Trading Up 14.5%

Shares of ULCC stock opened at $5.61 on Wednesday. The firm's 50 day moving average price is $4.21 and its two-hundred day moving average price is $4.48. The company has a quick ratio of 0.36, a current ratio of 0.41 and a debt-to-equity ratio of 0.53. Frontier Group Holdings, Inc. has a fifty-two week low of $2.89 and a fifty-two week high of $10.26. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -35.06 and a beta of 2.63.

Frontier Group (NASDAQ:ULCC - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.31) EPS 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 analysts' expectations of $951.92 million. During the same period last year, the business earned $0.14 earnings per share. The company's revenue for the quarter was down 4.5% compared to the same quarter last year. Frontier Group has set its Q3 2025 guidance at -0.420--0.260 EPS. On average, analysts anticipate that Frontier Group Holdings, Inc. will post 0.91 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Morgan Stanley decreased their target price on shares of Frontier Group from $10.00 to $9.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. UBS Group decreased their target price on shares of Frontier Group from $4.00 to $3.50 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Bank of America dropped their price objective on Frontier Group from $4.75 to $4.00 and set a "neutral" rating for the company in a research note on Tuesday, July 1st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Frontier Group from a "hold" rating to a "buy" rating and increased their price target for the company from $4.00 to $8.00 in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $5.61.

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.

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