Frontier Group Holdings, Inc. (NASDAQ:ULCC) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. reduced its position in Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 21.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 266,282 shares of the company’s stock after selling 73,506 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Frontier Group were worth $1,425,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Creative Planning boosted its stake in Frontier Group by 81.0% during the 3rd quarter. Creative Planning now owns 234,026 shares of the company’s stock worth $1,252,000 after purchasing an additional 104,707 shares during the period. U S Global Investors Inc. raised its holdings in shares of Frontier Group by 71.4% in 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. Boston Partners boosted its stake in shares of Frontier Group by 176.6% during the first quarter. Boston Partners now owns 1,053,270 shares of the company’s stock worth $8,518,000 after buying an additional 672,471 shares during the period. AlTi Global Inc. purchased a new position in shares of Frontier Group during the second quarter worth about $21,222,000. Finally, Algert Global LLC increased its position in Frontier Group by 119.0% in the 2nd quarter. Algert Global LLC now owns 250,623 shares of the company’s stock valued at $1,236,000 after acquiring an additional 136,159 shares during the period.

Insider Activity at Frontier Group

In other Frontier Group news, SVP Steve Schuller sold 10,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $6.00, for a total value of $60,000.00. Following the sale, the senior vice president now owns 34,035 shares of the company’s stock, valued at $204,210. This represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 81.50% of the stock is owned by corporate insiders.

Frontier Group Price Performance

ULCC stock opened at $5.57 on Wednesday. The firm has a 50 day moving average of $5.84 and a 200-day moving average of $4.94. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -139.22 and a beta of 2.51. The company has a current ratio of 0.53, a quick ratio of 0.48 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.

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

Wall Street Analysts Forecast Growth

ULCC has been the topic of several analyst reports. JPMorgan Chase & Co. downgraded Frontier Group from a “neutral” rating to an “underweight” rating in a research note on Tuesday, July 30th. Susquehanna lifted their price objective on shares of Frontier Group from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Evercore ISI upped their price objective on shares of Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. TD Cowen boosted their price target 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. Finally, 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Frontier Group has an average rating of “Hold” and a consensus price target of $6.32.

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.