Bank of New York Mellon Corp Grows Stock Holdings in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Bank of New York Mellon Corp boosted its holdings in Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 24.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 130,509 shares of the company’s stock after purchasing an additional 25,523 shares during the quarter. Bank of New York Mellon Corp owned about 0.06% of Frontier Group worth $643,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ULCC. Blue Trust Inc. acquired a new stake in shares of Frontier Group during the second quarter worth $45,000. Private Advisor Group LLC acquired a new position in shares of Frontier Group in the fourth quarter valued at approximately $59,000. Simplicity Wealth LLC lifted its stake in shares of Frontier Group by 17.6% during the 2nd quarter. Simplicity Wealth LLC now owns 29,532 shares of the company’s stock worth $146,000 after purchasing an additional 4,428 shares during the period. Bleakley Financial Group LLC lifted its position in Frontier Group by 23.3% during the first quarter. Bleakley Financial Group LLC now owns 25,154 shares of the company’s stock worth $204,000 after buying an additional 4,756 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Frontier Group by 11.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,010 shares of the company’s stock worth $211,000 after acquiring an additional 2,746 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Barclays dropped their price objective on shares of Frontier Group from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Susquehanna reduced their target price on shares of Frontier Group from $4.50 to $3.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Citigroup increased their price target on Frontier Group from $3.50 to $4.70 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Finally, Raymond James lowered shares of Frontier Group from a “market perform” rating to an “underperform” rating in a research note on Friday, July 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.92.

Frontier Group Stock Performance

Shares of ULCC opened at $4.20 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.52 and a quick ratio of 0.48. The stock has a market cap of $940.62 million, a price-to-earnings ratio of -35.67 and a beta of 2.49. Frontier Group Holdings, Inc. has a one year low of $2.79 and a one year high of $8.33. The company has a 50-day moving average of $3.71 and a two-hundred day moving average of $5.26.

Frontier Group (NASDAQ:ULCC) last issued its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Frontier Group had a negative net margin of 1.77% and a negative return on equity of 4.09%. The company had revenue of $973.00 million during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the business posted $0.31 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts expect that Frontier Group Holdings, Inc. will post -0.07 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.