AlTi Global Inc. Acquires New Stake in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

AlTi Global Inc. bought a new position in Frontier Group Holdings, Inc. (NASDAQ:ULCC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,304,682 shares of the company’s stock, valued at approximately $21,222,000. Frontier Group accounts for 0.6% of AlTi Global Inc.’s portfolio, making the stock its 24th largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. purchased a new position in Frontier Group in the second quarter worth $45,000. nVerses Capital LLC increased its stake in Frontier Group by 152.5% in the 2nd quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock valued at $50,000 after purchasing an additional 6,100 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in Frontier Group during the second quarter worth $58,000. Arizona State Retirement System boosted its position in Frontier Group by 29.0% during the second 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. Finally, Simplicity Wealth LLC grew its holdings in Frontier Group by 17.6% in the second quarter. Simplicity Wealth LLC now owns 29,532 shares of the company’s stock valued at $146,000 after purchasing an additional 4,428 shares during the last quarter.

Frontier Group Stock Performance

Shares of ULCC stock opened at $4.55 on Wednesday. The company has a current ratio of 0.52, a quick ratio of 0.48 and a debt-to-equity ratio of 0.43. The company has a market cap of $1.02 billion, a PE ratio of -37.92 and a beta of 2.49. The company’s fifty day simple moving average is $3.71 and its 200-day simple moving average is $5.21. Frontier Group Holdings, Inc. has a 52 week low of $2.79 and a 52 week high of $8.33.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $973.00 million for the quarter, compared to analyst estimates of $1.03 billion. Frontier Group had a negative return on equity of 4.09% and a negative net margin of 1.77%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period last year, the company posted $0.31 earnings per share. As a group, equities research analysts anticipate that Frontier Group Holdings, Inc. will post -0.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ULCC shares. TD Cowen boosted their price objective on shares of Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Citigroup boosted their price objective on shares of Frontier Group from $3.50 to $4.70 and gave the company a “neutral” rating in a research report on Monday, September 16th. Raymond James cut shares of Frontier Group from a “market perform” rating to an “underperform” rating in a research note on Friday, July 5th. Finally, Susquehanna reduced their target price on Frontier Group from $4.50 to $3.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.92.

Frontier Group Company 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.