Millennium Management LLC decreased its position in Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 21.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,469,527 shares of the company's stock after selling 393,352 shares during the quarter. Millennium Management LLC owned 0.65% of Frontier Group worth $10,448,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of ULCC. R Squared Ltd acquired a new stake in Frontier Group in the fourth quarter valued at approximately $32,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Frontier Group during the fourth quarter worth approximately $50,000. Nisa Investment Advisors LLC grew its position in shares of Frontier Group by 1,230.0% during 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 in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Frontier Group during the fourth quarter worth approximately $96,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Frontier Group during the fourth quarter worth approximately $96,000.
Insider Activity
In related news, SVP Alexandre Clerc sold 15,152 shares of Frontier Group stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $6.63, for a total transaction of $100,457.76. Following the sale, the senior vice president now directly owns 23,912 shares in the company, valued at $158,536.56. The trade was a 38.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 48.00% of the company's stock.
Frontier Group Stock Performance
Shares of ULCC traded up $0.03 during midday trading on Thursday, hitting $4.16. 950,412 shares of the stock traded hands, compared to its average volume of 3,616,398. 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 $946.36 million, a PE ratio of 11.54 and a beta of 2.55. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.48 and a current ratio of 0.53. The business's 50 day moving average price is $3.79 and its two-hundred day moving average price is $6.01.
Frontier Group (NASDAQ:ULCC - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $996.05 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts predict that Frontier Group Holdings, Inc. will post 0.91 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
ULCC has been the subject of a number of recent analyst reports. Bank of America decreased their price target on shares of Frontier Group from $10.00 to $7.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Susquehanna decreased their price target on shares of Frontier Group from $9.00 to $3.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Evercore ISI decreased their price target 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. Citigroup reduced their price objective on Frontier Group from $7.25 to $4.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, Morgan Stanley reduced 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. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $6.00.
Check Out 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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