Algert Global LLC Sells 295,526 Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Algert Global LLC decreased its position in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 65.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 155,982 shares of the company's stock after selling 295,526 shares during the quarter. Algert Global LLC owned approximately 0.07% of Frontier Group worth $1,109,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. R Squared Ltd purchased a new stake in Frontier Group in the fourth quarter valued at $32,000. KLP Kapitalforvaltning AS acquired a new stake in Frontier Group in the 4th quarter valued at about $50,000. Nisa Investment Advisors LLC increased its holdings in shares of Frontier Group by 1,230.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company's stock worth $57,000 after buying an additional 7,380 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of Frontier Group during the 4th quarter worth approximately $96,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Frontier Group during the 4th quarter worth approximately $96,000.

Insiders Place Their Bets

In other Frontier Group news, SVP Alexandre Clerc sold 15,152 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were 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 $158,536.56. This trade represents a 38.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Howard Diamond sold 87,830 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $8.77, for a total transaction of $770,269.10. Following the completion of the transaction, the executive vice president now owns 175,886 shares of the company's stock, valued at approximately $1,542,520.22. The trade was a 33.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 48.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on ULCC. Bank of America decreased their price target on shares of Frontier Group from $10.00 to $7.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. UBS Group decreased their price objective on shares of Frontier Group from $7.00 to $4.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Citigroup decreased their price objective on shares of Frontier Group from $7.25 to $4.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Barclays decreased their price objective on shares of Frontier Group from $14.00 to $10.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Frontier Group from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $12.00 to $8.00 in a report on Tuesday, March 4th. 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. According to MarketBeat.com, Frontier Group has an average rating of "Hold" and a consensus price target of $6.11.

Frontier Group Trading Up 1.1%

ULCC stock traded up $0.05 on Friday, hitting $4.14. 598,678 shares of the company were exchanged, compared to its average volume of 2,702,219. Frontier Group Holdings, Inc. has a twelve month low of $2.79 and a twelve month high of $10.26. 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 business's fifty day moving average is $4.13 and its two-hundred day moving average is $6.15. The stock has a market capitalization of $941.81 million, a price-to-earnings ratio of 11.49 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) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.03. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. The firm had revenue of $912.00 million during the quarter, compared to analyst estimates of $996.05 million. During the same quarter in the prior year, the business posted ($0.09) earnings per share. Frontier Group's revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, research analysts forecast that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current 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.