Barclays PLC Boosts Position in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Barclays PLC grew its position in Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 378.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,866 shares of the company’s stock after buying an additional 57,642 shares during the quarter. Barclays PLC’s holdings in Frontier Group were worth $389,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ULCC. AlTi Global Inc. acquired a new stake in shares of Frontier Group in the second quarter valued at approximately $21,222,000. U S Global Investors Inc. raised its position in shares of 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 purchasing an additional 3,150,768 shares during the last quarter. Verition Fund Management LLC lifted its stake in Frontier Group by 235.7% in the 3rd quarter. Verition Fund Management LLC now owns 646,243 shares of the company’s stock valued at $3,457,000 after buying an additional 453,736 shares in the last quarter. Geode Capital Management LLC grew its holdings in Frontier Group by 38.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after buying an additional 441,001 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Frontier Group by 81.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock worth $3,205,000 after buying an additional 269,221 shares in the last quarter.

Insider Activity

In related news, SVP Steve Schuller sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $7.07, for a total value of $35,350.00. Following the transaction, the senior vice president now owns 47,590 shares in the company, valued at approximately $336,461.30. This trade represents a 9.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Josh T. Connor sold 30,000 shares of Frontier Group stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total transaction of $172,200.00. Following the transaction, the director now directly owns 326,550 shares in the company, valued at approximately $1,874,397. This trade represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 788,000 shares of company stock valued at $6,214,070 in the last three months. Corporate insiders own 81.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ULCC. Barclays upped their price objective on Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Susquehanna upped their target price on shares of Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. UBS Group lifted their price target on shares of Frontier Group from $6.00 to $8.50 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised shares of Frontier Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $6.00 to $8.00 in a research report on Wednesday, December 11th. Finally, Raymond James upgraded shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $6.96.

Frontier Group Stock Performance

NASDAQ:ULCC opened at $8.58 on Friday. Frontier Group Holdings, Inc. has a fifty-two week low of $2.79 and a fifty-two week high of $8.74. The firm’s 50 day moving average is $6.74 and its two-hundred day moving average is $5.35. The company has a market cap of $1.93 billion, a P/E ratio of -214.45 and a beta of 2.32. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57.

Frontier Group (NASDAQ:ULCC) last issued its earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate 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. During the same quarter in the prior year, the business earned ($0.14) earnings per share. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. Analysts expect that Frontier Group Holdings, Inc. will post 0.07 EPS 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.