Fmr LLC Reduces Position in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Fmr LLC reduced its holdings in Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 82.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 33,412 shares of the company’s stock after selling 155,227 shares during the period. Fmr LLC’s holdings in Frontier Group were worth $179,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Arizona State Retirement System lifted its stake in Frontier Group by 29.0% in the 2nd quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock worth $77,000 after purchasing an additional 3,521 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Frontier Group by 2.3% in the second quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock valued at $789,000 after purchasing an additional 3,543 shares during the last quarter. Blue Trust Inc. lifted its position in Frontier Group by 41.2% during the third quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock worth $63,000 after buying an additional 3,744 shares in the last quarter. XTX Topco Ltd boosted its stake in Frontier Group by 10.6% during the second quarter. XTX Topco Ltd now owns 41,103 shares of the company’s stock worth $203,000 after buying an additional 3,936 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Frontier Group by 27.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,970 shares of the company’s stock valued at $98,000 after buying an additional 4,279 shares in the last quarter.

Frontier Group Stock Up 5.0 %

Shares of NASDAQ ULCC opened at $6.75 on Friday. Frontier Group Holdings, Inc. has a 52-week low of $2.79 and a 52-week high of $8.33. The business’s 50 day moving average is $6.24 and its two-hundred day moving average is $5.00. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -168.71 and a beta of 2.43. 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 (NASDAQ:ULCC) last posted its earnings results 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 during the quarter, compared to analysts’ expectations of $943.30 million. During the same quarter last year, the firm posted ($0.14) earnings per share. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. Research analysts predict that Frontier Group Holdings, Inc. will post 0.05 EPS for the current year.

Insider Transactions at Frontier Group

In related news, Director Josh T. Connor sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total transaction of $172,200.00. Following the sale, the director now directly owns 326,550 shares of the company’s stock, valued at $1,874,397. This represents a 8.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Steve Schuller sold 10,000 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $6.00, for a total transaction of $60,000.00. Following the sale, the senior vice president now owns 34,035 shares in the company, valued at approximately $204,210. This trade represents a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 81.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ULCC. Morgan Stanley lowered their price target on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. UBS Group assumed coverage on shares of Frontier Group in a report on Tuesday, November 26th. They issued a “neutral” rating and a $6.00 target price on the stock. Bank of America cut their price target on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Evercore ISI upped their price objective on Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Finally, Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.46.

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.