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

U S Global Investors Inc. lessened its position in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 27.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,898,614 shares of the company's stock after selling 1,469,136 shares during the quarter. Frontier Group comprises 2.2% of U S Global Investors Inc.'s investment portfolio, making the stock its 10th biggest holding. U S Global Investors Inc. owned about 1.72% of Frontier Group worth $16,920,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ULCC. Byrne Asset Management LLC acquired a new position in shares of Frontier Group in the 1st quarter valued at $35,000. Wealth Enhancement Advisory Services LLC increased its stake in Frontier Group by 71.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,061 shares of the company's stock valued at $78,000 after purchasing an additional 7,546 shares during the period. Rhumbline Advisers raised its holdings in shares of Frontier Group by 99.1% in the first quarter. Rhumbline Advisers now owns 110,193 shares of the company's stock valued at $478,000 after buying an additional 54,839 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Frontier Group by 8.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,359 shares of the company's stock worth $536,000 after buying an additional 5,834 shares during the period. Finally, Voloridge Investment Management LLC grew its holdings in shares of Frontier Group by 835.6% during the fourth quarter. Voloridge Investment Management LLC now owns 1,702,008 shares of the company's stock worth $12,101,000 after buying an additional 1,520,094 shares during the last quarter.

Insiders Place Their Bets

In other news, SVP Alexandre Clerc sold 12,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $3.89, for a total transaction of $46,680.00. Following the completion of the transaction, the senior vice president owned 11,912 shares of the company's stock, valued at $46,337.68. This represents a 50.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 48.00% of the company's stock.

Analyst Upgrades and Downgrades

ULCC has been the subject of several analyst reports. Citigroup reduced their price objective on Frontier Group from $7.25 to $4.00 and set a "neutral" 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 decreased their price target for the stock from $12.00 to $8.00 in a report on Tuesday, March 4th. UBS Group dropped their price objective on shares of Frontier Group from $7.00 to $4.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Barclays reduced their price objective 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. Finally, Morgan Stanley reduced their price target on Frontier Group from $10.00 to $9.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, Frontier Group has a consensus rating of "Hold" and a consensus target price of $5.67.

Frontier Group Price Performance

Frontier Group stock traded up $0.28 during trading hours on Tuesday, hitting $3.91. The stock had a trading volume of 4,723,471 shares, compared to its average volume of 2,957,761. Frontier Group Holdings, Inc. has a 1-year low of $2.79 and a 1-year high of $10.26. The stock has a market capitalization of $890.54 million, a price-to-earnings ratio of 13.48 and a beta of 2.67. The stock's fifty day moving average is $3.70 and its two-hundred day moving average is $5.64. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.49 and a quick ratio of 0.45.

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

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.