Squarepoint Ops LLC Buys 360,299 Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Squarepoint Ops LLC boosted its stake in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 1,494.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 384,403 shares of the company's stock after purchasing an additional 360,299 shares during the period. Squarepoint Ops LLC owned about 0.17% of Frontier Group worth $2,733,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Frontier Group by 8.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,442 shares of the company's stock worth $217,000 after buying an additional 2,296 shares during the last quarter. Rhumbline Advisers boosted its position in Frontier Group by 4.4% in the fourth quarter. Rhumbline Advisers now owns 55,354 shares of the company's stock worth $394,000 after purchasing an additional 2,334 shares during the last quarter. R Squared Ltd purchased a new position in Frontier Group in the fourth quarter worth about $32,000. KLP Kapitalforvaltning AS bought a new stake in shares of Frontier Group during the 4th quarter valued at about $50,000. Finally, Nisa Investment Advisors LLC increased its position 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 valued at $57,000 after purchasing an additional 7,380 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 shares were sold at an average price of $6.63, for a total value of $100,457.76. Following the completion of the sale, the senior vice president now owns 23,912 shares in the company, valued at approximately $158,536.56. This trade represents a 38.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 48.00% of the stock is currently owned by insiders.

Frontier Group Price Performance

ULCC stock traded down $0.02 during midday trading on Friday, hitting $4.07. The company's stock had a trading volume of 2,747,595 shares, compared to its average volume of 2,777,842. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.45. Frontier Group Holdings, Inc. has a 12 month low of $2.79 and a 12 month high of $10.26. The company has a 50 day moving average of $3.73 and a two-hundred day moving average of $5.96. The firm has a market capitalization of $927.00 million, a price-to-earnings ratio of 11.31 and a beta of 2.55.

Frontier Group (NASDAQ:ULCC - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.03. The company had revenue of $912.00 million during the quarter, compared to analysts' expectations of $996.05 million. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. Frontier Group's quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the company posted ($0.09) earnings per share. On average, analysts expect that Frontier Group Holdings, Inc. will post 0.91 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ULCC shares. Barclays cut their target price on shares of Frontier Group from $14.00 to $10.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Evercore ISI reduced their price objective on Frontier Group from $7.00 to $5.00 and set an "in-line" rating for the company in a research note on Friday, April 11th. Deutsche Bank Aktiengesellschaft downgraded Frontier Group from a "buy" rating to a "hold" rating and lowered their target price for the company from $12.00 to $8.00 in a research report on Tuesday, March 4th. Citigroup reduced their price target on Frontier Group from $7.25 to $4.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Finally, Bank of America lowered their price objective on Frontier Group from $10.00 to $7.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Frontier Group currently has an average rating of "Hold" and a consensus target price of $6.00.

Frontier Group Company 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.