Barclays PLC Acquires 57,642 Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Barclays PLC increased its stake in Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 378.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,866 shares of the company’s stock after purchasing an additional 57,642 shares during the period. Barclays PLC’s holdings in Frontier Group were worth $389,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Algert Global LLC increased its holdings in shares of Frontier Group by 80.2% in the 3rd quarter. Algert Global LLC now owns 451,508 shares of the company’s stock worth $2,416,000 after buying an additional 200,885 shares during the last quarter. Creative Planning grew its position in Frontier Group by 81.0% in the third quarter. Creative Planning now owns 234,026 shares of the company’s stock worth $1,252,000 after acquiring an additional 104,707 shares in the last quarter. U S Global Investors Inc. increased its stake in Frontier Group by 71.4% in the third quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock valued at $40,473,000 after acquiring an additional 3,150,768 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in Frontier Group during the third quarter valued at about $54,000. Finally, AlTi Global Inc. bought a new stake in Frontier Group during the second quarter worth about $21,222,000.

Frontier Group Stock Performance

Shares of NASDAQ:ULCC opened at $7.11 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average price of $6.35 and a 200-day moving average price of $5.12. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -177.71 and a beta of 2.43. Frontier Group Holdings, Inc. has a 12 month low of $2.79 and a 12 month high of $8.33.

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 business had revenue of $935.00 million during the quarter, compared to analyst estimates of $943.30 million. Frontier Group’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.14) earnings per share. As a group, equities analysts anticipate that Frontier Group Holdings, Inc. will post 0.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ULCC shares. Deutsche Bank Aktiengesellschaft upgraded Frontier Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $6.00 to $8.00 in a research report on Wednesday, December 11th. Morgan Stanley reduced their price target on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Evercore ISI boosted their price objective 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. Susquehanna increased their target price on shares of Frontier Group from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, UBS Group initiated coverage on shares of Frontier Group in a research report on Tuesday, November 26th. They issued a “neutral” rating and a $6.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.46.

Insider Activity at Frontier Group

In other Frontier Group news, CEO Barry Biffle sold 160,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $6.88, for a total transaction of $1,100,800.00. Following the transaction, the chief executive officer now owns 784,817 shares in the company, valued at approximately $5,399,540.96. This represents a 16.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Josh T. Connor sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total value of $172,200.00. Following the completion of the transaction, the director now owns 326,550 shares of the company’s stock, valued at approximately $1,874,397. The trade was a 8.41 % decrease in their position. The disclosure for this sale can be found here. 81.50% of the stock is owned by corporate 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.