U S Global Investors Inc. Sells 1,469,136 Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC)

U S Global Investors Inc. decreased its stake in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 27.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,898,614 shares of the company's stock after selling 1,469,136 shares during the quarter. Frontier Group makes up 2.2% of U S Global Investors Inc.'s portfolio, making the stock its 10th largest position. U S Global Investors Inc. owned 1.72% of Frontier Group worth $16,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ULCC. KLP Kapitalforvaltning AS purchased a new stake in shares of Frontier Group in the 4th quarter worth $50,000. Byrne Asset Management LLC bought a new stake in shares of Frontier Group in the first quarter valued at about $35,000. ProShare Advisors LLC purchased a new stake in Frontier Group in the fourth quarter worth about $84,000. Aigen Investment Management LP bought a new position in Frontier Group during the 4th quarter worth about $96,000. Finally, SBI Securities Co. Ltd. purchased a new position in Frontier Group during the 4th quarter valued at about $96,000.

Frontier Group Price Performance

Shares of Frontier Group stock remained flat at $3.61 during trading on Friday. The stock had a trading volume of 9,178,850 shares, compared to its average volume of 2,950,428. Frontier Group Holdings, Inc. has a 52-week low of $2.79 and a 52-week high of $10.26. The company has a fifty day moving average price of $3.68 and a 200-day moving average price of $5.67. 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 stock has a market capitalization of $822.21 million, a P/E ratio of 12.45 and a beta of 2.67.

Frontier Group (NASDAQ:ULCC - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.03. Frontier Group had a return on equity of 5.53% and a net margin of 1.78%. The company had revenue of $912.00 million during the quarter, compared to analysts' expectations of $996.05 million. During the same period last year, the business posted ($0.09) earnings per share. The firm's revenue was up 5.4% compared to the same quarter last year. As a group, analysts anticipate that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ULCC shares. Morgan Stanley lowered their price target on shares of Frontier Group from $10.00 to $9.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. Bank of America lowered their target price on Frontier Group from $10.00 to $7.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Citigroup cut their price target on Frontier Group from $7.25 to $4.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Barclays reduced their price target on Frontier Group from $14.00 to $10.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Evercore ISI dropped their price objective on 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. One equities research 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's stock. According to data from MarketBeat, Frontier Group has a consensus rating of "Hold" and a consensus target price of $6.00.

Insider Buying and Selling

In related news, SVP Alexandre Clerc sold 12,000 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was 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 now owns 11,912 shares in the company, valued at $46,337.68. This trade represents a 50.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 48.00% of the stock is owned by company insiders.

Frontier Group 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.