U S Global Investors Inc. Raises Stock Position in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

U S Global Investors Inc. lifted its stake in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 46.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,483,645 shares of the company's stock after buying an additional 3,305,465 shares during the quarter. Frontier Group accounts for approximately 3.9% of U S Global Investors Inc.'s holdings, making the stock its 5th largest holding. U S Global Investors Inc. owned about 4.74% of Frontier Group worth $57,241,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Advisor Group Holdings Inc. boosted its position in Frontier Group by 1,838.1% during the 1st quarter. Advisor Group Holdings Inc. now owns 10,214 shares of the company's stock valued at $115,000 after purchasing an additional 9,687 shares during the period. Swiss National Bank grew its stake in Frontier Group by 7.7% in the first quarter. Swiss National Bank now owns 102,100 shares of the company's stock valued at $1,157,000 after purchasing an additional 7,300 shares in the last quarter. MetLife Investment Management LLC grew its stake in Frontier Group by 58.5% in the first quarter. MetLife Investment Management LLC now owns 23,388 shares of the company's stock valued at $265,000 after purchasing an additional 8,632 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Frontier Group by 21.0% during the 1st quarter. Rhumbline Advisers now owns 35,611 shares of the company's stock worth $403,000 after acquiring an additional 6,192 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Frontier Group by 5.3% during the 1st quarter. BlackRock Inc. now owns 2,367,731 shares of the company's stock worth $26,828,000 after acquiring an additional 120,090 shares in the last quarter.

Frontier Group Trading Up 0.3 %

Frontier Group stock traded up $0.02 during trading hours on Thursday, reaching $7.17. 1,800,866 shares of the company's stock were exchanged, compared to its average volume of 2,523,321. Frontier Group Holdings, Inc. has a twelve month low of $3.19 and a twelve month high of $10.57. The firm's 50 day simple moving average is $7.08 and its 200 day simple moving average is $5.43. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $1.60 billion, a PE ratio of -123.17 and a beta of 2.57.

Insiders Place Their Bets

In other Frontier Group news, CEO Barry Biffle sold 151,620 shares of Frontier Group stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $7.72, for a total transaction of $1,170,506.40. Following the transaction, the chief executive officer now owns 772,981 shares of the company's stock, valued at approximately $5,967,413.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 83.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on ULCC shares. Morgan Stanley reaffirmed an "equal weight" rating and issued a $8.00 price target (down previously from $10.00) on shares of Frontier Group in a report on Monday, January 8th. UBS Group started coverage on Frontier Group in a research report on Wednesday, March 20th. They issued a "neutral" rating and a $8.00 price target on the stock. TD Cowen raised their price objective on Frontier Group from $5.00 to $12.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 7th. Raymond James cut their price target on Frontier Group from $9.00 to $8.00 and set an "outperform" rating on the stock in a report on Tuesday, December 12th. Finally, Evercore ISI boosted their price target on Frontier Group from $7.00 to $8.50 and gave the company an "in-line" rating in a report on Thursday. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $7.51.

Frontier Group Company 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.