Two Sigma Advisers LP increased its stake in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 310.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 274,400 shares of the company's stock after buying an additional 207,500 shares during the quarter. Two Sigma Advisers LP owned about 0.12% of Frontier Group worth $1,951,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in ULCC. Two Sigma Investments LP grew its stake in shares of Frontier Group by 488.9% in the fourth quarter. Two Sigma Investments LP now owns 980,426 shares of the company's stock worth $6,971,000 after purchasing an additional 813,929 shares in the last quarter. Teza Capital Management LLC bought a new position in shares of Frontier Group in the fourth quarter worth $167,000. ProShare Advisors LLC bought a new position in shares of Frontier Group in the fourth quarter worth $84,000. Man Group plc acquired a new stake in shares of Frontier Group in the fourth quarter valued at $565,000. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of Frontier Group in the fourth quarter valued at $849,000.
Analysts Set New Price Targets
Several analysts have recently weighed in on ULCC shares. Bank of America cut their price objective on Frontier Group from $10.00 to $7.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Deutsche Bank Aktiengesellschaft downgraded Frontier Group from a "buy" rating to a "hold" rating and reduced their target price for the company from $12.00 to $8.00 in a report on Tuesday, March 4th. Susquehanna dropped their price target on Frontier Group from $9.00 to $3.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. UBS Group dropped their price target on Frontier Group from $7.00 to $4.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Finally, Citigroup dropped their price target on Frontier Group from $7.25 to $4.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Frontier Group currently has a consensus rating of "Hold" and a consensus target price of $6.00.
Check Out Our Latest Stock Report on Frontier Group
Frontier Group Stock Performance
NASDAQ ULCC traded up $0.03 during trading on Tuesday, reaching $4.04. 2,336,773 shares of the company's stock were exchanged, compared to its average volume of 2,782,166. Frontier Group Holdings, Inc. has a fifty-two week low of $2.79 and a fifty-two week high of $10.26. The business has a 50 day moving average price of $3.68 and a 200-day moving average price of $5.93. 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 has a market capitalization of $920.17 million, a P/E ratio of 11.22 and a beta of 2.55.
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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.22) by $0.03. The business had revenue of $912.00 million for the quarter, compared to the consensus estimate of $996.05 million. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.09) earnings per share. Sell-side analysts forecast that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, SVP Alexandre Clerc sold 15,152 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $6.63, for a total value of $100,457.76. Following the completion of the transaction, the senior vice president now directly owns 23,912 shares in the company, valued at approximately $158,536.56. This represents a 38.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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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