Connor Clark & Lunn Investment Management Ltd. Trims Holdings in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Connor Clark & Lunn Investment Management Ltd. decreased its position in Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 24.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. raised its stake in Frontier Group by 31.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,396,885 shares of the company's stock valued at $17,042,000 after purchasing an additional 578,151 shares during the last quarter. Towle & Co. increased its stake in shares of Frontier Group by 6.1% during the 4th quarter. Towle & Co. now owns 2,348,882 shares of the company's stock valued at $16,701,000 after acquiring an additional 134,723 shares during the last quarter. Voloridge Investment Management LLC increased its stake in shares of Frontier Group by 835.6% during the 4th quarter. Voloridge Investment Management LLC now owns 1,702,008 shares of the company's stock valued at $12,101,000 after acquiring an additional 1,520,094 shares during the last quarter. Geode Capital Management LLC increased its stake 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 valued at $11,564,000 after acquiring an additional 35,355 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of Frontier Group by 488.9% during the 4th quarter. Two Sigma Investments LP now owns 980,426 shares of the company's stock valued at $6,971,000 after acquiring an additional 813,929 shares during the last quarter.

Frontier Group Trading Up 2.0%

ULCC traded up $0.09 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. The company's 50 day moving average is $3.95 and its 200-day moving average is $4.84. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -28.25 and a beta of 2.62. Frontier Group Holdings, Inc. has a twelve month low of $2.89 and a twelve month high of $10.26. 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 issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.31) earnings per share (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 firm had revenue of $929.00 million during the quarter, compared to analyst estimates of $951.92 million. During the same period last year, the business earned $0.14 EPS. The firm's revenue was down 4.5% compared to the same quarter last year. Equities analysts predict that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current year.

Insider Transactions at Frontier Group

In other Frontier Group news, SVP Alexandre Clerc sold 12,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $3.89, for a total value of $46,680.00. Following the completion of the sale, the senior vice president owned 11,912 shares of the company's stock, valued at $46,337.68. This trade 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 the SEC website. 48.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on ULCC. 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 analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $5.61.

Frontier Group 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.