Vanguard Group Inc. Grows Stock Position in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Vanguard Group Inc. lifted its stake in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC - Free Report) by 20.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,821,012 shares of the company's stock after buying an additional 636,921 shares during the quarter. Vanguard Group Inc. owned about 1.73% of Frontier Group worth $18,494,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Ancient Art L.P. lifted its position in Frontier Group by 52.3% during the third quarter. Ancient Art L.P. now owns 7,961,321 shares of the company's stock worth $38,533,000 after acquiring an additional 2,734,104 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Frontier Group by 215.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,837,680 shares of the company's stock valued at $26,589,000 after purchasing an additional 1,938,222 shares during the period. U S Global Investors Inc. boosted its stake in Frontier Group by 28.8% in the 3rd quarter. U S Global Investors Inc. now owns 7,178,180 shares of the company's stock valued at $34,742,000 after purchasing an additional 1,602,970 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in Frontier Group during the 1st quarter worth $12,749,000. Finally, First Dallas Securities Inc. lifted its holdings in shares of Frontier Group by 985.8% during the third quarter. First Dallas Securities Inc. now owns 952,746 shares of the company's stock worth $4,611,000 after buying an additional 864,996 shares in the last quarter.

Insiders Place Their Bets

In other Frontier Group news, CEO Barry Biffle sold 14,500 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $7.21, for a total transaction of $104,545.00. Following the completion of the sale, the chief executive officer now owns 63,949 shares of the company's stock, valued at approximately $461,072.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 83.20% of the company's stock.

Wall Street Analysts Forecast Growth

ULCC has been the subject of several analyst reports. Susquehanna lifted their price objective on shares of Frontier Group from $5.00 to $7.00 and gave the stock a "neutral" rating in a research note on Friday, February 9th. Barclays boosted their price target on Frontier Group from $7.00 to $9.00 and gave the company an "overweight" rating in a research note on Friday, April 5th. Evercore ISI raised their price objective on Frontier Group from $7.00 to $8.50 and gave the stock an "in-line" rating in a research note on Thursday, April 4th. Bank of America reaffirmed a "neutral" rating and issued a $6.00 price objective (down from $8.00) on shares of Frontier Group in a report on Tuesday, January 9th. Finally, Morgan Stanley reissued an "equal weight" rating and set a $8.00 target price (down from $10.00) on shares of Frontier Group in a report on Monday, January 8th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $7.78.

Frontier Group Price Performance

Shares of NASDAQ ULCC traded up $0.04 during mid-day trading on Monday, hitting $6.76. 1,285,004 shares of the stock traded hands, compared to its average volume of 2,407,181. The firm has a 50 day simple moving average of $7.34 and a two-hundred day simple moving average of $5.55. Frontier Group Holdings, Inc. has a twelve month low of $3.19 and a twelve month high of $10.57. The company has a market cap of $1.51 billion, a PE ratio of -112.00 and a beta of 2.57. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.48.

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.