79,702 Shares in Frontier Group Holdings, Inc. (NASDAQ:ULCC) Purchased by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. bought a new stake in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 79,702 shares of the company's stock, valued at approximately $567,000.

A number of other hedge funds have also recently modified their holdings of the business. R Squared Ltd bought a new position in Frontier Group during the 4th quarter valued at approximately $32,000. KLP Kapitalforvaltning AS purchased a new stake in Frontier Group during the 4th quarter valued at about $50,000. Nisa Investment Advisors LLC raised its holdings in Frontier Group by 1,230.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company's stock worth $57,000 after buying an additional 7,380 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of Frontier Group in the fourth quarter worth approximately $96,000. Finally, SBI Securities Co. Ltd. purchased a new position in Frontier Group in the 4th quarter worth approximately $96,000.

Frontier Group Price Performance

NASDAQ ULCC traded up $0.05 during trading on Friday, hitting $4.14. 424,890 shares of the stock traded hands, compared to its average volume of 2,758,433. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.45. Frontier Group Holdings, Inc. has a 12-month low of $2.79 and a 12-month high of $10.26. The firm has a 50-day simple moving average of $3.76 and a 200-day simple moving average of $5.99. The company has a market capitalization of $941.81 million, a P/E ratio of 11.49 and a beta of 2.55.

Frontier Group (NASDAQ:ULCC - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.03. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. The company had revenue of $912.00 million for the quarter, compared to the consensus estimate of $996.05 million. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. Frontier Group's revenue was up 5.4% on a year-over-year basis. As a group, analysts predict that Frontier Group Holdings, Inc. will post 0.91 EPS for the current year.

Insider Activity at Frontier Group

In other news, SVP Alexandre Clerc sold 15,152 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $6.63, for a total value of $100,457.76. Following the completion of the sale, the senior vice president now directly owns 23,912 shares of the company's stock, valued at $158,536.56. This trade represents a 38.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 48.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Barclays lowered their target price on Frontier Group from $14.00 to $10.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft lowered shares of Frontier Group from a "buy" rating to a "hold" rating and cut their target price for the company from $12.00 to $8.00 in a research report on Tuesday, March 4th. Susquehanna dropped their price target on shares of Frontier Group from $9.00 to $3.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Evercore ISI reduced their price objective on Frontier Group from $7.00 to $5.00 and set an "in-line" rating for the company in a research note on Friday, April 11th. Finally, Citigroup decreased their target price on Frontier Group from $7.25 to $4.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Frontier Group currently has a consensus rating of "Hold" and an average target price of $6.00.

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.