US Bancorp DE Buys 13,619 Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC)

US Bancorp DE grew its position in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 930.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,083 shares of the company’s stock after purchasing an additional 13,619 shares during the quarter. US Bancorp DE’s holdings in Frontier Group were worth $81,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. AlTi Global Inc. bought a new position in Frontier Group during the second quarter worth $21,222,000. U S Global Investors Inc. grew its holdings in Frontier Group by 71.4% during the 3rd quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock worth $40,473,000 after acquiring an additional 3,150,768 shares during the period. Boston Partners raised its position in shares of Frontier Group by 176.6% in the 1st quarter. Boston Partners now owns 1,053,270 shares of the company’s stock worth $8,518,000 after acquiring an additional 672,471 shares in the last quarter. Jade Capital Advisors LLC lifted its stake in shares of Frontier Group by 624.3% in the 3rd quarter. Jade Capital Advisors LLC now owns 249,436 shares of the company’s stock valued at $1,334,000 after purchasing an additional 215,000 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Frontier Group during the 2nd quarter valued at about $1,011,000.

Frontier Group Stock Performance

Shares of ULCC opened at $6.80 on Friday. Frontier Group Holdings, Inc. has a 52 week low of $2.79 and a 52 week high of $8.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.48 and a current ratio of 0.53. The stock has a 50 day moving average price of $5.67 and a two-hundred day moving average price of $4.96. The firm has a market capitalization of $1.53 billion, a P/E ratio of -170.00 and a beta of 2.51.

Frontier Group (NASDAQ:ULCC) last released its quarterly 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 company had revenue of $935.00 million during the quarter, compared to analyst estimates of $943.30 million. The company’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.14) earnings per share. Equities analysts forecast that Frontier Group Holdings, Inc. will post 0.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ULCC has been the subject of a number of research analyst reports. Barclays lifted their target price on Frontier Group from $7.00 to $10.00 and gave the stock an “overweight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Raymond James upgraded shares of Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. JPMorgan Chase & Co. lowered shares of Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. Finally, Citigroup raised their target price on Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.52.

Insider Activity at Frontier Group

In other Frontier Group news, SVP Steve Schuller sold 10,000 shares of the 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 completion of the sale, the senior vice president now owns 34,035 shares in the company, valued at approximately $204,210. This trade represents a 22.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 81.50% of the stock is owned by insiders.

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.