BlackRock Inc. Acquires New Shares in Frontier Group Holdings, Inc. $ULCC

Key Points

• BlackRock acquired 5.97 million Frontier Group shares worth approximately $47.2 million, giving it a 2.59% stake in the company.
• Frontier reported a quarterly loss of $0.10 per share, outperforming the $0.47 consensus loss estimate, while revenue rose 37.7% year over year to $1.28 billion.
• ULCC shares opened at $5.70, while analysts maintained a cautious outlook: six rated the stock “Hold” and three rated it “Sell,” with a consensus price target of $6.86.

BlackRock Inc. purchased a new position in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,967,733 shares of the company's stock, valued at approximately $47,205,000. BlackRock Inc. owned approximately 2.59% of Frontier Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently modified their holdings of ULCC. Straightline Group LLC increased its stake in shares of Frontier Group by 9.5% in the fourth quarter. Straightline Group LLC now owns 60,586 shares of the company's stock valued at $285,000 after buying an additional 5,232 shares during the period. AQR Capital Management LLC boosted its holdings in Frontier Group by 46.0% in the first quarter. AQR Capital Management LLC now owns 18,777 shares of the company's stock valued at $81,000 after acquiring an additional 5,913 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Frontier Group during the 3rd quarter valued at approximately $27,000. Victory Capital Management Inc. raised its holdings in Frontier Group by 9.5% during the 3rd quarter. Victory Capital Management Inc. now owns 70,382 shares of the company's stock worth $311,000 after purchasing an additional 6,108 shares during the last quarter. Finally, Quarry LP bought a new position in Frontier Group during the fourth quarter worth $34,000.

Frontier Group Trading Down 2.4%

Shares of ULCC stock opened at $5.70 on Tuesday. The firm has a fifty day moving average price of $6.76 and a 200-day moving average price of $5.37. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -3.39 and a beta of 2.59. Frontier Group Holdings, Inc. has a 1 year low of $3.02 and a 1 year high of $8.40. The company has a debt-to-equity ratio of 2.77, a current ratio of 0.58 and a quick ratio of 0.54.

Frontier Group (NASDAQ:ULCC - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.37. The firm had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.22 billion. Frontier Group had a negative return on equity of 35.54% and a negative net margin of 9.29%.The business's revenue was up 37.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.31) earnings per share. Frontier Group has set its Q4 2026 guidance at 0.000-0.200 EPS and its Q3 2026 guidance at -0.100-0.100 EPS. As a group, equities analysts predict that Frontier Group Holdings, Inc. will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Howard Diamond sold 24,195 shares of the company's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $8.25, for a total transaction of $199,608.75. Following the transaction, the executive vice president directly owned 133,126 shares of the company's stock, valued at approximately $1,098,289.50. This represents a 15.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Steve Schuller sold 10,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $6.00, for a total transaction of $60,000.00. Following the completion of the transaction, the senior vice president directly owned 97,175 shares of the company's stock, valued at $583,050. The trade was a 9.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,048,682 shares of company stock valued at $87,021,581 over the last three months. Corporate insiders own 48.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Zacks Research downgraded Frontier Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 27th. UBS Group upped their target price on shares of Frontier Group from $4.00 to $7.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 23rd. Citigroup increased their price target on Frontier Group from $5.00 to $9.00 and gave the company a "neutral" rating in a research report on Friday, June 26th. Susquehanna lifted their price objective on shares of Frontier Group from $4.50 to $7.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen raised Frontier Group from a "sell" rating to a "hold" rating in a report on Sunday, June 21st. Six research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $6.86.

About Frontier Group

Frontier Group, trading on Nasdaq under the ticker ULCC, is the holding company for Frontier Airlines, an ultra-low-cost carrier based in Denver, Colorado. The company’s core business centers on providing no-frills air travel across a point-to-point network while generating ancillary revenue from add-on services such as baggage fees, seat selection, priority boarding and in-flight refreshments. This fare-plus-a-la-carte model allows Frontier to offer competitive base fares and maintain low operating costs.

Founded in February 1994 by industry veterans Andrew Levy and Russell Beardsmore, Frontier Airlines commenced operations with a small fleet of MD-80 aircraft.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.