Wealthfront Advisers LLC Buys New Holdings in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Wealthfront Advisers LLC purchased a new stake in Frontier Group Holdings, Inc. (NASDAQ:ULCC) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 24,866 shares of the company’s stock, valued at approximately $177,000.

A number of other large investors have also recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in Frontier Group by 38.4% in the third quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after acquiring an additional 441,001 shares during the period. Highland Peak Capital LLC bought a new stake in shares of Frontier Group during the fourth quarter worth $6,492,000. Verition Fund Management LLC grew its holdings in shares of Frontier Group by 235.7% during the third quarter. Verition Fund Management LLC now owns 646,243 shares of the company’s stock worth $3,457,000 after purchasing an additional 453,736 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Frontier Group by 81.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock worth $3,205,000 after purchasing an additional 269,221 shares during the last quarter. Finally, Algert Global LLC grew its holdings in shares of Frontier Group by 80.2% during the third 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 during the last quarter.

Analyst Upgrades and Downgrades

ULCC has been the topic of several research analyst reports. Barclays increased their target price on Frontier Group from $10.00 to $14.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft lowered Frontier Group from a “buy” rating to a “hold” rating and cut their price target for the company from $12.00 to $8.00 in a research note on Tuesday, March 4th. Morgan Stanley increased their price target on shares of Frontier Group from $7.00 to $10.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. UBS Group boosted their price objective on shares of Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Finally, Susquehanna boosted their price target on shares of Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.74.

Frontier Group Price Performance

ULCC stock opened at $6.15 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.48. Frontier Group Holdings, Inc. has a one year low of $2.79 and a one year high of $10.26. The stock has a market cap of $1.40 billion, a PE ratio of 17.08 and a beta of 2.37. The firm has a 50 day simple moving average of $7.93 and a two-hundred day simple moving average of $6.56.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings data on Friday, February 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.20. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. On average, analysts predict that Frontier Group Holdings, Inc. will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling at Frontier Group

In other Frontier Group news, CEO Barry Biffle sold 160,000 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $6.88, for a total transaction of $1,100,800.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Alexandre Clerc sold 15,152 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $6.63, for a total transaction of $100,457.76. Following the sale, the senior vice president now directly owns 23,912 shares of the company’s stock, valued at $158,536.56. The trade was a 38.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 860,982 shares of company stock valued at $6,912,597 in the last quarter. Company insiders own 81.50% of the company’s stock.

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.