Blue Trust Inc. Boosts Stock Position in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Blue Trust Inc. grew its holdings in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 41.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,828 shares of the company’s stock after buying an additional 3,744 shares during the period. Blue Trust Inc.’s holdings in Frontier Group were worth $63,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in ULCC. nVerses Capital LLC lifted its stake in Frontier Group by 152.5% during the second quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock worth $50,000 after purchasing an additional 6,100 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Frontier Group during the 2nd quarter worth approximately $58,000. Arizona State Retirement System boosted its holdings in shares of Frontier Group by 29.0% in the 2nd quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock valued at $77,000 after buying an additional 3,521 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Frontier Group by 27.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,970 shares of the company’s stock valued at $98,000 after buying an additional 4,279 shares during the last quarter. Finally, Simplicity Wealth LLC raised its stake in 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 acquiring an additional 4,428 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts have issued reports on ULCC shares. Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft dropped their price target on Frontier Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Bank of America reduced their price objective on Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Barclays raised their target price on shares of Frontier Group from $6.00 to $7.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Evercore ISI upped their price target on shares of Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Frontier Group has an average rating of “Hold” and an average target price of $6.12.

Insider Transactions at Frontier Group

In related news, SVP Steve Schuller sold 10,000 shares of Frontier Group stock in a transaction that occurred 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 sale, the senior vice president now directly owns 34,035 shares in the company, valued at $204,210. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 81.50% of the company’s stock.

Frontier Group Stock Performance

Shares of ULCC opened at $6.08 on Friday. Frontier Group Holdings, Inc. has a 1 year low of $2.79 and a 1 year high of $8.33. The stock has a market capitalization of $1.36 billion, a P/E ratio of -152.00 and a beta of 2.55. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.48 and a current ratio of 0.52. The company’s fifty day moving average is $5.05 and its two-hundred day moving average is $4.99.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. Frontier Group had a negative return on equity of 4.09% and a negative net margin of 1.77%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.14) earnings per share. On average, sell-side analysts predict that Frontier Group Holdings, Inc. will post 0.06 earnings per share for the current year.

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.