Frontier Group Holdings, Inc. (NASDAQ:ULCC) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 251.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,896 shares of the company’s stock after buying an additional 8,507 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Frontier Group were worth $64,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ULCC. Price T Rowe Associates Inc. MD grew its position in Frontier Group by 11.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,010 shares of the company’s stock worth $211,000 after buying an additional 2,746 shares during the last quarter. Simplicity Wealth LLC grew its position in Frontier Group by 17.6% in the second quarter. Simplicity Wealth LLC now owns 29,532 shares of the company’s stock worth $146,000 after buying an additional 4,428 shares during the last quarter. SG Americas Securities LLC acquired a new position in Frontier Group in the second quarter worth approximately $659,000. Blue Trust Inc. acquired a new position in Frontier Group in the 2nd quarter worth approximately $45,000. Finally, Bank of New York Mellon Corp boosted its stake in Frontier Group by 24.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 130,509 shares of the company’s stock worth $643,000 after purchasing an additional 25,523 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. UBS Group assumed coverage on shares of Frontier Group in a research note on Tuesday, November 26th. They issued a “neutral” rating and a $6.00 price objective for the company. Barclays raised their price objective on shares of Frontier Group from $7.00 to $10.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. TD Cowen raised their price objective on shares of Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Monday, September 16th. Raymond James raised shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. Finally, Susquehanna raised their price objective on shares of Frontier Group from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.32.

Insider Activity at Frontier Group

In related news, SVP Steve Schuller sold 10,000 shares of Frontier Group stock in a transaction on Friday, October 4th. The shares were sold at an average price of $6.00, for a total value of $60,000.00. Following the transaction, the senior vice president now owns 34,035 shares in the company, valued at $204,210. This trade represents a 22.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Josh T. Connor sold 30,000 shares of Frontier Group stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total transaction of $172,200.00. Following the completion of the transaction, the director now owns 326,550 shares in the company, valued at $1,874,397. This trade represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. 81.50% of the stock is owned by company insiders.

Frontier Group Trading Up 1.9 %

Shares of NASDAQ:ULCC opened at $5.92 on Tuesday. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57. Frontier Group Holdings, Inc. has a 12-month low of $2.79 and a 12-month high of $8.33. The firm has a fifty day moving average of $6.09 and a two-hundred day moving average of $4.93. The firm has a market capitalization of $1.33 billion, a P/E ratio of -147.96 and a beta of 2.43.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The company had revenue of $935.00 million for the quarter, compared to analyst estimates of $943.30 million. During the same period in the previous year, the firm posted ($0.14) earnings per share. The company’s revenue was up 5.9% compared to the same quarter last year. On average, equities analysts expect that Frontier Group Holdings, Inc. will post 0.04 EPS for the current fiscal 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.