Towle & Co. Boosts Position in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Towle & Co. grew its position in Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 6.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,348,882 shares of the company's stock after buying an additional 134,723 shares during the period. Frontier Group makes up about 2.9% of Towle & Co.'s investment portfolio, making the stock its 14th largest holding. Towle & Co. owned about 1.04% of Frontier Group worth $16,701,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Highland Peak Capital LLC purchased a new position in shares of Frontier Group during the fourth quarter valued at approximately $6,492,000. Two Sigma Investments LP increased its holdings in Frontier Group by 488.9% during the fourth quarter. Two Sigma Investments LP now owns 980,426 shares of the company's stock valued at $6,971,000 after buying an additional 813,929 shares during the last quarter. Empyrean Capital Partners LP purchased a new stake in Frontier Group during the fourth quarter valued at approximately $4,977,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Frontier Group by 247.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 926,093 shares of the company's stock valued at $6,585,000 after buying an additional 659,811 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in Frontier Group by 31.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,396,885 shares of the company's stock valued at $17,042,000 after buying an additional 578,151 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ULCC shares. Susquehanna dropped 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. Bank of America dropped 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. Deutsche Bank Aktiengesellschaft lowered shares of Frontier Group from a "buy" rating to a "hold" rating and dropped their target price for the stock from $12.00 to $8.00 in a research report on Tuesday, March 4th. UBS Group dropped their target price on shares of Frontier Group from $7.00 to $4.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Finally, Morgan Stanley decreased 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 note on Monday. One equities 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $6.00.

Insider Activity

In other news, SVP Alexandre Clerc sold 15,152 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $6.63, for a total value of $100,457.76. Following the sale, the senior vice president now owns 23,912 shares of the company's stock, valued at approximately $158,536.56. This represents a 38.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 48.00% of the company's stock.

Frontier Group Trading Up 0.5%

Shares of ULCC traded up $0.02 during midday trading on Thursday, hitting $3.75. The stock had a trading volume of 2,912,068 shares, compared to its average volume of 2,740,232. 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 cap of $854.12 million, a PE ratio of 10.42 and a beta of 2.55. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.48. The stock's 50 day moving average is $3.98 and its 200 day moving average is $6.09.

Frontier Group (NASDAQ:ULCC - Get Free Report) last announced 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. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. The business had revenue of $912.00 million for the quarter, compared to the consensus estimate of $996.05 million. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. The business's revenue for the quarter was up 5.4% on a year-over-year basis. As a group, analysts forecast that Frontier Group Holdings, Inc. will post 0.91 EPS for the current fiscal 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.