Victory Capital Management Inc. Purchases New Position in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Victory Capital Management Inc. purchased a new position in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,122 shares of the company’s stock, valued at approximately $54,000.

Several other institutional investors also recently bought and sold shares of the business. AlTi Global Inc. purchased a new stake in Frontier Group in the 2nd quarter worth $21,222,000. U S Global Investors Inc. grew its position 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 purchasing an additional 3,150,768 shares during the period. Boston Partners increased 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 purchasing an additional 672,471 shares in the last quarter. Jade Capital Advisors LLC raised its position in shares of Frontier Group by 624.3% during the 3rd quarter. Jade Capital Advisors LLC now owns 249,436 shares of the company’s stock worth $1,334,000 after purchasing an additional 215,000 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Frontier Group in the 2nd quarter valued at about $1,011,000.

Wall Street Analyst Weigh In

ULCC has been the subject of several research reports. Barclays boosted their price objective on Frontier Group from $7.00 to $10.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Evercore ISI increased their price objective on Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. Bank of America decreased their price objective on Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. UBS Group began coverage on shares of Frontier Group in a report on Tuesday, November 26th. They set a “neutral” rating and a $6.00 target price for the company. Finally, Susquehanna raised their price target on shares of Frontier Group from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. 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. According to data from MarketBeat.com, Frontier Group has a consensus rating of “Hold” and a consensus target price of $6.32.

Insiders Place Their Bets

In other news, SVP Steve Schuller sold 10,000 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $6.00, for a total value of $60,000.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 81.50% of the stock is owned by insiders.

Frontier Group Price Performance

Frontier Group stock opened at $5.83 on Monday. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average price of $5.94 and a 200 day moving average price of $4.94. Frontier Group Holdings, Inc. has a 12-month low of $2.79 and a 12-month high of $8.33. The stock has a market cap of $1.31 billion, a P/E ratio of -145.71 and a beta of 2.51.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The firm had revenue of $935.00 million for the quarter, compared to analyst estimates of $943.30 million. During the same period last year, the business posted ($0.14) earnings per share. Frontier Group’s revenue for the quarter was up 5.9% on a year-over-year basis. Sell-side analysts anticipate that Frontier Group Holdings, Inc. will post 0.04 earnings per share for the current year.

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.