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

Lighthouse Investment Partners LLC purchased a new position in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 119,436 shares of the company's stock, valued at approximately $849,000. Lighthouse Investment Partners LLC owned about 0.05% of Frontier Group at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Legal & General Group Plc raised its stake in shares of Frontier Group by 54.4% during the fourth quarter. Legal & General Group Plc now owns 49,832 shares of the company's stock worth $354,000 after buying an additional 17,558 shares during the last quarter. Barclays PLC increased its stake in Frontier Group by 378.6% in the third quarter. Barclays PLC now owns 72,866 shares of the company's stock valued at $389,000 after purchasing an additional 57,642 shares in the last quarter. Vanguard Group Inc. increased its stake in Frontier Group by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 8,186,633 shares of the company's stock valued at $58,207,000 after purchasing an additional 26,682 shares in the last quarter. American Century Companies Inc. bought a new stake in Frontier Group in the fourth quarter valued at approximately $379,000. Finally, Dimensional Fund Advisors LP increased its stake in Frontier Group by 210.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 804,693 shares of the company's stock valued at $5,721,000 after purchasing an additional 545,485 shares in the last quarter.

Frontier Group Stock Up 2.0%

Shares of Frontier Group stock traded up $0.08 on Friday, hitting $4.17. The company had a trading volume of 2,550,346 shares, compared to its average volume of 2,719,192. The firm has a market capitalization of $949.78 million, a P/E ratio of 11.58 and a beta of 2.55. 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 stock has a 50-day moving average of $4.10 and a 200-day moving average of $6.13.

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 for the quarter, beating 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 company had revenue of $912.00 million during the quarter, compared to analysts' expectations of $996.05 million. During the same quarter in the prior year, the company earned ($0.09) earnings per share. The business's quarterly revenue was up 5.4% compared to the same quarter last year. Research analysts predict that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Howard Diamond sold 87,830 shares of the stock in a transaction on Thursday, February 20th. The shares were 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 in the company, valued at approximately $1,542,520.22. This represents a 33.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Alexandre Clerc sold 15,152 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $6.63, for a total transaction of $100,457.76. Following the sale, 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 disclosure for this sale can be found here. 48.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ULCC has been the subject of several recent analyst reports. UBS Group lowered their target price on shares of Frontier Group from $7.00 to $4.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Susquehanna lowered their target price on shares of Frontier Group from $9.00 to $3.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Bank of America lowered their target price on shares of Frontier Group from $10.00 to $7.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Deutsche Bank Aktiengesellschaft downgraded shares of Frontier Group from a "buy" rating to a "hold" rating and lowered their target price for the company from $12.00 to $8.00 in a research note on Tuesday, March 4th. Finally, Barclays lowered their target price on shares of Frontier Group from $14.00 to $10.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Frontier Group presently has a consensus rating of "Hold" and a consensus price target of $6.11.

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.