Two Sigma Investments LP Grows Stock Position in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Two Sigma Investments LP increased its position in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 488.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 980,426 shares of the company's stock after purchasing an additional 813,929 shares during the quarter. Two Sigma Investments LP owned 0.44% of Frontier Group worth $6,971,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Teza Capital Management LLC acquired a new stake in shares of Frontier Group during the 4th quarter worth approximately $167,000. ProShare Advisors LLC purchased a new position in Frontier Group in the 4th quarter valued at $84,000. Man Group plc acquired a new position in Frontier Group during the fourth quarter worth about $565,000. Lighthouse Investment Partners LLC acquired a new position in shares of Frontier Group during the 4th quarter worth approximately $849,000. Finally, Empyrean Capital Partners LP purchased a new stake in Frontier Group in the 4th quarter valued at $4,977,000.

Frontier Group Price Performance

Shares of ULCC traded up $0.02 during mid-day trading on Friday, hitting $4.11. The company's stock had a trading volume of 517,216 shares, compared to its average volume of 2,758,827. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45. Frontier Group Holdings, Inc. has a 1-year low of $2.79 and a 1-year high of $10.26. The firm has a market capitalization of $934.98 million, a P/E ratio of 11.46 and a beta of 2.55. The firm has a 50-day simple moving average of $3.76 and a 200 day simple moving average of $5.99.

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

Analyst Ratings Changes

ULCC has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft downgraded Frontier Group from a "buy" rating to a "hold" rating and reduced their target price for the company from $12.00 to $8.00 in a research report on Tuesday, March 4th. Susquehanna lowered their price objective on Frontier Group from $9.00 to $3.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Bank of America dropped their target price on Frontier Group from $10.00 to $7.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Evercore ISI reduced their price objective on shares of Frontier Group from $7.00 to $5.00 and set an "in-line" rating for the company in a research report on Friday, April 11th. Finally, Citigroup decreased their target price on Frontier Group from $7.25 to $4.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, Frontier Group has a consensus rating of "Hold" and a consensus target price of $6.00.

Insider Activity

In related news, SVP Alexandre Clerc sold 15,152 shares of Frontier Group stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $6.63, for a total transaction of $100,457.76. Following the completion of the sale, the senior vice president now owns 23,912 shares in the company, valued at approximately $158,536.56. This trade represents a 38.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 48.00% of the company's stock.

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.