Lighthouse Investment Partners LLC Makes New $849,000 Investment in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Lighthouse Investment Partners LLC bought a new position in Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 119,436 shares of the company's stock, valued at approximately $849,000. Lighthouse Investment Partners LLC owned 0.05% of Frontier Group as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. R Squared Ltd purchased a new position in shares of Frontier Group during the fourth quarter valued at $32,000. KLP Kapitalforvaltning AS purchased a new position in shares of Frontier Group during the fourth quarter valued at $50,000. Nisa Investment Advisors LLC increased its stake in shares of Frontier Group by 1,230.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company's stock valued at $57,000 after buying an additional 7,380 shares during the period. Aigen Investment Management LP purchased a new position in shares of Frontier Group during the fourth quarter valued at $96,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Frontier Group during the fourth quarter valued at $96,000.

Insiders Place Their Bets

In other news, SVP Alexandre Clerc sold 15,152 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $6.63, for a total transaction of $100,457.76. Following the completion of the transaction, the senior vice president now directly owns 23,912 shares of the company's stock, valued at approximately $158,536.56. This represents a 38.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Howard Diamond sold 87,830 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $8.77, for a total value of $770,269.10. Following the transaction, the executive vice president now directly owns 175,886 shares of the company's stock, valued at approximately $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. 48.00% of the stock is owned by company insiders.

Frontier Group Trading Up 0.4%

NASDAQ:ULCC traded up $0.02 on Tuesday, reaching $4.03. The company's stock had a trading volume of 763,949 shares, compared to its average volume of 2,710,592. Frontier Group Holdings, Inc. has a 12-month low of $2.79 and a 12-month high of $10.26. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.45. The firm has a market cap of $916.75 million, a price-to-earnings ratio of 11.18 and a beta of 2.55. The stock has a 50 day moving average price of $4.06 and a 200 day moving average price of $6.12.

Frontier Group (NASDAQ:ULCC - Get Free Report) last posted its 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. The company 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 company's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.09) earnings per share. On average, equities analysts anticipate that Frontier Group Holdings, Inc. will post 0.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ULCC shares. Barclays cut their price target on Frontier Group from $14.00 to $10.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Susquehanna cut their price target 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. 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. Deutsche Bank Aktiengesellschaft downgraded Frontier Group from a "buy" rating to a "hold" rating and dropped their price objective for the company from $12.00 to $8.00 in a research report on Tuesday, March 4th. Finally, Bank of America dropped their price objective on Frontier Group from $10.00 to $7.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. 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 MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $6.00.

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.