Bank of America Corp DE cut its holdings in Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 29.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,140,990 shares of the company's stock after selling 465,166 shares during the period. Bank of America Corp DE owned about 0.51% of Frontier Group worth $8,112,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC lifted its position in Frontier Group by 1,230.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company's stock valued at $57,000 after purchasing an additional 7,380 shares during the last quarter. Mutual Advisors LLC lifted its position in Frontier Group by 4.5% in the 4th quarter. Mutual Advisors LLC now owns 187,041 shares of the company's stock valued at $1,330,000 after purchasing an additional 8,000 shares during the last quarter. R Squared Ltd bought a new stake in Frontier Group in the 4th quarter valued at about $32,000. Spire Wealth Management bought a new stake in Frontier Group in the 4th quarter valued at about $327,000. Finally, Rhumbline Advisers lifted its position in Frontier Group by 4.4% in the 4th quarter. Rhumbline Advisers now owns 55,354 shares of the company's stock valued at $394,000 after purchasing an additional 2,334 shares during the last quarter.
Insider Activity at Frontier Group
In other news, SVP Alexandre Clerc sold 15,152 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $6.63, for a total value of $100,457.76. Following the sale, the senior vice president now directly owns 23,912 shares of the company's stock, valued at approximately $158,536.56. This trade represents a 38.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 48.00% of the stock is currently owned by company insiders.
Frontier Group Price Performance
Shares of NASDAQ ULCC traded up $0.02 during midday trading on Friday, reaching $4.11. The company's stock had a trading volume of 328,721 shares, compared to its average volume of 2,757,918. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average price of $3.76 and a 200 day moving average price of $5.99. Frontier Group Holdings, Inc. has a one year low of $2.79 and a one year high of $10.26. The company has a market cap of $934.98 million, a price-to-earnings ratio of 11.38 and a beta of 2.55.
Frontier Group (NASDAQ:ULCC - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, topping 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 business had revenue of $912.00 million for the quarter, compared to the consensus estimate of $996.05 million. During the same period in the previous year, the firm earned ($0.09) EPS. The business's revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts expect that Frontier Group Holdings, Inc. will post 0.91 EPS for the current year.
Wall Street Analyst Weigh In
ULCC has been the topic of a number of recent analyst reports. Citigroup dropped their price target on shares of Frontier Group from $7.25 to $4.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Evercore ISI dropped their price target on shares of Frontier Group from $7.00 to $5.00 and set an "in-line" rating on the stock in a research report on Friday, April 11th. Bank of America dropped their price target on shares of Frontier Group from $10.00 to $7.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Morgan Stanley dropped their price target on shares of Frontier Group from $10.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th. Finally, UBS Group dropped their price target on shares of Frontier Group from $7.00 to $4.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $6.00.
Read Our Latest Research Report on ULCC
About Frontier Group
(
Free Report)
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.
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