Frontier Group Holdings, Inc. (NASDAQ:ULCC) Shares Acquired by Voloridge Investment Management LLC

Voloridge Investment Management LLC increased its holdings in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 835.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,702,008 shares of the company's stock after buying an additional 1,520,094 shares during the quarter. Voloridge Investment Management LLC owned 0.76% of Frontier Group worth $12,101,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. R Squared Ltd bought a new stake in shares of Frontier Group during the 4th quarter worth about $32,000. KLP Kapitalforvaltning AS bought a new stake in shares of Frontier Group during the 4th quarter worth about $50,000. Nisa Investment Advisors LLC boosted its stake in shares of Frontier Group by 1,230.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company's stock worth $57,000 after acquiring an additional 7,380 shares in the last quarter. ProShare Advisors LLC bought a new stake in shares of Frontier Group during the 4th quarter worth about $84,000. Finally, Aigen Investment Management LP bought a new stake in shares of Frontier Group during the 4th quarter worth about $96,000.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Susquehanna cut their price target on Frontier Group from $9.00 to $3.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Evercore ISI lowered their price objective on Frontier Group from $7.00 to $5.00 and set an "in-line" rating on the stock in a research note on Friday, April 11th. UBS Group lowered their price objective on Frontier Group from $7.00 to $4.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Morgan Stanley lowered their price objective on Frontier Group from $10.00 to $9.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Finally, Barclays lowered their price objective on Frontier Group from $14.00 to $10.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $6.00.

Insider Activity

In related news, SVP Alexandre Clerc sold 15,152 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $6.63, for a total transaction of $100,457.76. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 48.00% of the company's stock.

Frontier Group Trading Up 0.6%

Shares of ULCC stock traded up $0.03 during mid-day trading on Friday, reaching $4.12. The stock had a trading volume of 747,769 shares, compared to its average volume of 2,759,710. The stock's 50-day moving average price is $3.76 and its two-hundred day moving average price is $5.99. Frontier Group Holdings, Inc. has a 52-week low of $2.79 and a 52-week high of $10.26. The firm has a market capitalization of $937.25 million, a PE ratio of 11.46 and a beta of 2.55. 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 (NASDAQ:ULCC - Get Free Report) last issued its earnings results 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. The firm had revenue of $912.00 million for the quarter, compared to the consensus estimate of $996.05 million. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. The business's revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. Equities analysts expect that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current fiscal year.

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.