Nuveen LLC Acquires Shares of 107,263 Frontier Group Holdings, Inc. $ULCC

Key Points

• Nuveen LLC has taken a new position in Frontier Group Holdings, Inc., purchasing 107,263 shares valued at approximately $466,000 in the first quarter of 2023.
• Analysts have mixed opinions on Frontier Group, with Deutsche Bank upgrading the stock's rating from "hold" to "buy" while others, like Bank of America and UBS Group, have lowered their price targets.
• Frontier Group reported a revenue of $929 million for the last quarter, down 4.5% from the previous year, and missed analyst estimates for earnings per share.

Nuveen LLC purchased a new position in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 107,263 shares of the company's stock, valued at approximately $466,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Aigen Investment Management LP increased its position in Frontier Group by 645.5% during the first quarter. Aigen Investment Management LP now owns 100,358 shares of the company's stock worth $436,000 after purchasing an additional 86,896 shares during the last quarter. Invesco Ltd. increased its position in Frontier Group by 15.8% during the first quarter. Invesco Ltd. now owns 80,550 shares of the company's stock worth $350,000 after purchasing an additional 11,009 shares during the last quarter. Deutsche Bank AG increased its position in Frontier Group by 2,201.8% during the first quarter. Deutsche Bank AG now owns 585,888 shares of the company's stock worth $2,543,000 after purchasing an additional 560,434 shares during the last quarter. Primecap Management Co. CA increased its position in Frontier Group by 13.0% during the first quarter. Primecap Management Co. CA now owns 434,300 shares of the company's stock worth $1,885,000 after purchasing an additional 50,000 shares during the last quarter. Finally, XTX Topco Ltd increased its position in Frontier Group by 69.0% during the first quarter. XTX Topco Ltd now owns 30,676 shares of the company's stock worth $133,000 after purchasing an additional 12,528 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have issued reports on ULCC. Deutsche Bank Aktiengesellschaft upgraded shares of Frontier Group from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $4.00 to $8.00 in a research note on Tuesday, September 2nd. Bank of America decreased their price objective on shares of Frontier Group from $4.75 to $4.00 and set a "neutral" rating for the company in a research note on Tuesday, July 1st. Morgan Stanley decreased their price objective on shares of Frontier Group from $10.00 to $9.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Finally, UBS Group decreased their price objective on shares of Frontier Group from $4.00 to $3.50 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $5.61.

Frontier Group Stock Performance

Shares of ULCC stock remained flat at $5.18 on Friday. 4,772,242 shares of the stock traded hands, compared to its average volume of 4,957,016. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -32.38 and a beta of 2.63. The business has a 50-day simple moving average of $4.31 and a 200 day simple moving average of $4.40. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.41 and a quick ratio of 0.36. Frontier Group Holdings, Inc. has a fifty-two week low of $2.89 and a fifty-two week high of $10.26.

Frontier Group (NASDAQ:ULCC - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.03). The firm had revenue of $929.00 million during the quarter, compared to analysts' expectations of $951.92 million. Frontier Group had a negative net margin of 0.87% and a negative return on equity of 12.56%. Frontier Group's revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.14 earnings per share. Frontier Group has set its Q3 2025 guidance at -0.420--0.260 EPS. Equities analysts expect that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current year.

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.