Squarepoint Ops LLC Takes Position in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Squarepoint Ops LLC bought a new position in Frontier Group Holdings, Inc. (NASDAQ:ULCC) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 61,313 shares of the company’s stock, valued at approximately $302,000.

A number of other large investors also recently added to or reduced their stakes in ULCC. Norden Group LLC purchased a new position in Frontier Group in the 1st quarter worth $293,000. Capstone Investment Advisors LLC purchased a new position in Frontier Group in the 1st quarter worth $350,000. Susquehanna Fundamental Investments LLC purchased a new position in Frontier Group in the 1st quarter worth $494,000. Russell Investments Group Ltd. raised its position in Frontier Group by 11.0% in the 1st quarter. Russell Investments Group Ltd. now owns 1,104,292 shares of the company’s stock worth $8,956,000 after purchasing an additional 109,418 shares during the period. Finally, Bleakley Financial Group LLC raised its position in Frontier Group by 23.3% in the 1st quarter. Bleakley Financial Group LLC now owns 25,154 shares of the company’s stock worth $204,000 after purchasing an additional 4,756 shares during the period.

Frontier Group Trading Down 1.2 %

Shares of ULCC opened at $5.77 on Friday. The firm’s 50-day moving average price is $4.12 and its 200-day moving average price is $5.07. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -48.08 and a beta of 2.55. The company has a current ratio of 0.52, a quick ratio of 0.48 and a debt-to-equity ratio of 0.43. Frontier Group Holdings, Inc. has a 1-year low of $2.79 and a 1-year high of $8.33.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.14 EPS for the quarter, topping the consensus estimate 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 business had revenue of $973.00 million for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm posted $0.31 earnings per share. Frontier Group’s quarterly revenue was up .6% on a year-over-year basis. Sell-side analysts anticipate that Frontier Group Holdings, Inc. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Steve Schuller sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $6.00, for a total transaction of $60,000.00. Following the completion of the transaction, the senior vice president now directly owns 34,035 shares of the company’s stock, valued at $204,210. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 81.50% of the company’s stock.

Analysts Set New Price Targets

ULCC has been the topic of a number of recent analyst reports. Raymond James raised shares of Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. Barclays cut their price target on shares of Frontier Group from $7.00 to $6.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. TD Cowen raised their price target on shares of Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Monday, September 16th. Evercore ISI raised their price target on shares of Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. lowered shares of Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.77.

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.