OneDigital Investment Advisors LLC Acquires 144,165 Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC)

OneDigital Investment Advisors LLC grew its stake in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 46.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 454,003 shares of the company's stock after purchasing an additional 144,165 shares during the period. OneDigital Investment Advisors LLC owned about 0.20% of Frontier Group worth $3,228,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of ULCC. Highland Peak Capital LLC purchased a new position in Frontier Group during the 4th quarter worth $6,492,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of 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 purchasing an additional 659,811 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Frontier Group by 210.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 804,693 shares of the company's stock worth $5,721,000 after purchasing an additional 545,485 shares during the last quarter. Geode Capital Management LLC grew its position in Frontier Group by 38.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company's stock worth $8,512,000 after purchasing an additional 441,001 shares in the last quarter. Finally, ExodusPoint Capital Management LP grew its position in Frontier Group by 105.3% in the 4th quarter. ExodusPoint Capital Management LP now owns 420,384 shares of the company's stock worth $2,989,000 after purchasing an additional 215,607 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ULCC. 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 decreased their target price on Frontier Group from $7.25 to $4.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Deutsche Bank Aktiengesellschaft downgraded shares of Frontier Group from a "buy" rating to a "hold" rating and cut their price target for the stock from $12.00 to $8.00 in a report on Tuesday, March 4th. Barclays lowered their price objective on shares of Frontier Group from $14.00 to $10.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Evercore ISI lowered their price target on shares of Frontier Group from $7.00 to $5.00 and set an "in-line" rating on the stock in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $6.11.

Frontier Group Price Performance

Shares of ULCC traded down $0.04 during midday trading on Monday, hitting $3.20. 982,564 shares of the company traded hands, compared to its average volume of 2,546,313. The stock has a 50-day moving average of $5.17 and a 200-day moving average of $6.43. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.48. Frontier Group Holdings, Inc. has a one year low of $2.79 and a one year high of $10.26. The firm has a market cap of $726.06 million, a P/E ratio of 8.90 and a beta of 2.52.

Frontier Group (NASDAQ:ULCC - Get Free Report) last released its quarterly earnings results on Friday, February 7th. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.20. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. As a group, sell-side analysts predict that Frontier Group Holdings, Inc. will post 0.91 EPS for the current fiscal year.

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 transaction, the senior vice president now owns 23,912 shares of the company's stock, valued at $158,536.56. This represents a 38.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Howard Diamond sold 87,830 shares of Frontier Group stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $8.77, for a total transaction of $770,269.10. Following the sale, the executive vice president now directly owns 175,886 shares of the company's stock, valued at $1,542,520.22. This represents a 33.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 48.00% of the company's stock.

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.