Towle & Co. increased its holdings in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,348,882 shares of the company's stock after purchasing an additional 134,723 shares during the quarter. Frontier Group accounts for about 2.9% of Towle & Co.'s investment portfolio, making the stock its 14th largest holding. Towle & Co. owned approximately 1.04% of Frontier Group worth $16,701,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of ULCC. R Squared Ltd purchased a new stake in shares of Frontier Group during the fourth quarter worth about $32,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Frontier Group during the fourth quarter worth about $50,000. Nisa Investment Advisors LLC increased 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 acquiring an additional 7,380 shares during the last quarter. ProShare Advisors LLC purchased a new stake in shares of Frontier Group during the fourth quarter worth about $84,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Frontier Group during the fourth quarter worth about $96,000.
Insiders Place Their Bets
In other news, SVP Alexandre Clerc sold 15,152 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was 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 approximately $158,536.56. The trade was a 38.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 48.00% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on ULCC. Evercore ISI reduced their target price 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. Susquehanna cut their target price on Frontier Group from $9.00 to $3.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Citigroup cut their target price 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. UBS Group lowered their price target on Frontier Group from $7.00 to $4.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Finally, Bank of America lowered their target price on Frontier Group from $10.00 to $7.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $6.00.
Check Out Our Latest Research Report on ULCC
Frontier Group Trading Down 2.1%
Shares of NASDAQ:ULCC traded down $0.08 during midday trading on Friday, reaching $3.67. The company had a trading volume of 1,858,422 shares, compared to its average volume of 2,742,738. The firm has a market cap of $835.90 million, a price-to-earnings ratio of 10.19 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. Frontier Group Holdings, Inc. has a 1-year low of $2.79 and a 1-year high of $10.26. The company has a fifty day simple moving average of $3.89 and a two-hundred day simple moving average of $6.06.
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. The business had revenue of $912.00 million during the quarter, compared to analyst estimates of $996.05 million. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. The firm's revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) EPS. Research analysts predict that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current year.
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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