Frontier Group Holdings, Inc. $ULCC Position Trimmed by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 24.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 699,495 shares of the company's stock after selling 226,598 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.31% of Frontier Group worth $3,036,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ULCC. JPMorgan Chase & Co. raised its holdings in Frontier Group by 162.2% during the fourth quarter. JPMorgan Chase & Co. now owns 50,902 shares of the company's stock worth $362,000 after purchasing an additional 31,492 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Frontier Group by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 1,625,953 shares of the company's stock worth $11,564,000 after purchasing an additional 35,355 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Frontier Group by 223.1% in the 4th quarter. Wells Fargo & Company MN now owns 41,974 shares of the company's stock worth $298,000 after buying an additional 28,984 shares in the last quarter. Legal & General Group Plc boosted its position 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 worth $354,000 after buying an additional 17,558 shares in the last quarter. Finally, Barclays PLC raised its stake in 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 purchasing an additional 8,844 shares during the last quarter.

Insider Activity

In other Frontier Group 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 value of $46,680.00. Following the transaction, the senior vice president directly owned 11,912 shares of the company's stock, valued at $46,337.68. This represents a 50.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 48.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ULCC has been the subject of a number of research analyst reports. Bank of America dropped their price objective on shares of Frontier Group from $4.75 to $4.00 and set a "neutral" rating for the company in a research note on Tuesday, July 1st. UBS Group dropped 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 note on Wednesday, August 6th. Finally, Morgan Stanley dropped 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 note on Monday, May 19th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $5.61.

Frontier Group Trading Up 5.0%

Shares of NASDAQ:ULCC traded up $0.23 during trading on Monday, reaching $4.75. 3,170,088 shares of the stock were exchanged, compared to its average volume of 3,787,429. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -29.59 and a beta of 2.62. Frontier Group Holdings, Inc. has a 12-month low of $2.89 and a 12-month high of $10.26. The firm's 50-day moving average price is $3.95 and its 200 day moving average price is $4.79. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.36 and a current ratio of 0.41.

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

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.