State Street Corp Has $5.39 Million Holdings in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

State Street Corp lowered its position in Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 2.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,007,478 shares of the company’s stock after selling 26,843 shares during the period. State Street Corp owned 0.45% of Frontier Group worth $5,390,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. nVerses Capital LLC increased its stake in shares of Frontier Group by 152.5% in the 2nd quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock valued at $50,000 after acquiring an additional 6,100 shares in the last quarter. Victory Capital Management Inc. bought a new position in Frontier Group during the third quarter worth $54,000. Ballentine Partners LLC acquired a new stake in Frontier Group in the third quarter worth $55,000. Vanguard Personalized Indexing Management LLC bought a new stake in Frontier Group in the second quarter valued at $58,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Frontier Group by 251.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock valued at $64,000 after purchasing an additional 8,507 shares during the period.

Insider Buying and Selling

In related news, CEO Barry Biffle sold 160,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $6.88, for a total transaction of $1,100,800.00. Following the completion of the sale, the chief executive officer now owns 784,817 shares in the company, valued at approximately $5,399,540.96. This trade represents a 16.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Steve Schuller sold 10,000 shares of the business’s stock in a transaction dated 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 owns 34,035 shares in the company, valued at approximately $204,210. The trade was a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 200,000 shares of company stock worth $1,333,000. 81.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

ULCC has been the subject of a number of research analyst reports. UBS Group started coverage on Frontier Group in a research report on Tuesday, November 26th. They issued a “neutral” rating and a $6.00 target price for the company. Citigroup boosted their price objective on Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Morgan Stanley cut their target price on Frontier Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. TD Cowen boosted their price target on shares of Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Frontier Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $6.00 to $8.00 in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Frontier Group has a consensus rating of “Hold” and a consensus price target of $6.46.

Frontier Group Stock Performance

Shares of ULCC stock opened at $7.17 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48. The firm has a 50-day moving average of $6.33 and a 200-day moving average of $5.06. Frontier Group Holdings, Inc. has a one year low of $2.79 and a one year high of $8.33. The company has a market cap of $1.62 billion, a P/E ratio of -179.21 and a beta of 2.43.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The business had revenue of $935.00 million for the quarter, compared to analysts’ expectations of $943.30 million. During the same period last year, the business posted ($0.14) EPS. The business’s revenue was up 5.9% on a year-over-year basis. Equities research analysts forecast that Frontier Group Holdings, Inc. will post 0.05 EPS for the current fiscal year.

Frontier Group 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.