Barclays PLC Raises Stake in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Barclays PLC boosted its holdings in Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 378.6% during the third quarter, Holdings Channel.com reports. The firm owned 72,866 shares of the company’s stock after acquiring an additional 57,642 shares during the quarter. Barclays PLC’s holdings in Frontier Group were worth $389,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Algert Global LLC boosted its position in shares of Frontier Group by 80.2% in the 3rd quarter. Algert Global LLC now owns 451,508 shares of the company’s stock worth $2,416,000 after purchasing an additional 200,885 shares in the last quarter. Creative Planning raised its stake in Frontier Group by 81.0% during the third quarter. Creative Planning now owns 234,026 shares of the company’s stock valued at $1,252,000 after buying an additional 104,707 shares during the last quarter. U S Global Investors Inc. raised its stake in Frontier Group by 71.4% during the third quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock valued at $40,473,000 after buying an additional 3,150,768 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Frontier Group in the third quarter worth $54,000. Finally, AlTi Global Inc. bought a new position in shares of Frontier Group during the second quarter valued at $21,222,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Evercore ISI upped their price target on shares of Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of Frontier Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $6.00 to $8.00 in a research note on Wednesday, December 11th. Citigroup increased their price target on shares of Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Bank of America decreased their price objective 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. Finally, Barclays upped their target price on shares of Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.46.

Insider Transactions at Frontier Group

In related news, Director Josh T. Connor sold 30,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total value of $172,200.00. Following the sale, the director now directly owns 326,550 shares in the company, valued at approximately $1,874,397. The trade was a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Barry Biffle sold 160,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $6.88, for a total value of $1,100,800.00. Following the transaction, the chief executive officer now owns 784,817 shares of the company’s stock, valued at $5,399,540.96. This represents a 16.93 % 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.

Frontier Group Stock Performance

Shares of ULCC opened at $7.11 on Friday. Frontier Group Holdings, Inc. has a 52 week low of $2.79 and a 52 week high of $8.33. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of -177.71 and a beta of 2.43. The business has a 50-day simple moving average of $6.35 and a two-hundred day simple moving average of $5.12.

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

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.