OneDigital Investment Advisors LLC reduced its stake in Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 14.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 387,856 shares of the company's stock after selling 66,147 shares during the quarter. OneDigital Investment Advisors LLC owned 0.17% of Frontier Group worth $1,683,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in ULCC. 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 acquiring an additional 2,334 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Frontier Group by 32.7% in the 4th quarter. Bank of New York Mellon Corp now owns 138,739 shares of the company's stock valued at $986,000 after acquiring an additional 34,192 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Frontier Group in the 4th quarter valued at $96,000. Aigen Investment Management LP bought a new stake in Frontier Group during the 4th quarter worth about $96,000. Finally, Highland Peak Capital LLC bought a new stake in Frontier Group during the 4th quarter worth about $6,492,000.
Analysts Set New Price Targets
Several brokerages have commented on ULCC. Susquehanna cut their price target on shares of Frontier Group from $9.00 to $3.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Morgan Stanley cut 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. Evercore ISI cut 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. Citigroup cut 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. Finally, Bank of America lowered their price objective on shares of Frontier Group from $4.75 to $4.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 1st. 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $5.67.
Read Our Latest Report on ULCC
Frontier Group Price Performance
Shares of Frontier Group stock traded up $0.35 on Thursday, reaching $4.36. 5,672,290 shares of the stock were exchanged, compared to its average volume of 3,007,992. The firm's 50 day moving average is $3.82 and its 200-day moving average is $5.53. Frontier Group Holdings, Inc. has a one year low of $2.79 and a one year high of $10.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.45 and a current ratio of 0.49. The firm has a market cap of $993.03 million, a PE ratio of 15.03 and a beta of 2.60.
Frontier Group (NASDAQ:ULCC - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping analysts' consensus estimates of ($0.22) by $0.03. Frontier Group had a net margin of 1.78% and a return on equity of 5.53%. 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 prior year, the firm posted ($0.09) EPS. The firm's quarterly revenue was up 5.4% on a year-over-year basis. As a group, analysts anticipate that Frontier Group Holdings, Inc. will post 0.91 EPS for the current fiscal year.
Insider Buying and Selling at Frontier Group
In related news, SVP Alexandre Clerc sold 12,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $3.89, for a total value of $46,680.00. Following the completion of the transaction, the senior vice president owned 11,912 shares of the company's stock, valued at $46,337.68. This represents a 50.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 48.00% of the company's stock.
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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