Charles Schwab Investment Management Inc. Reduces Stake in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Charles Schwab Investment Management Inc. cut its stake in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 571,780 shares of the company’s stock after selling 27,226 shares during the period. Charles Schwab Investment Management Inc. owned 0.25% of Frontier Group worth $4,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Rhumbline Advisers raised its holdings in Frontier Group by 4.4% during the 4th quarter. Rhumbline Advisers now owns 55,354 shares of the company’s stock valued at $394,000 after buying an additional 2,334 shares during the period. R Squared Ltd bought a new position in Frontier Group in the 4th quarter worth about $32,000. Nisa Investment Advisors LLC grew its stake in Frontier Group by 1,230.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock worth $57,000 after acquiring an additional 7,380 shares in the last quarter. Mutual Advisors LLC raised its position in Frontier Group by 4.5% during the 4th quarter. Mutual Advisors LLC now owns 187,041 shares of the company’s stock valued at $1,330,000 after purchasing an additional 8,000 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Frontier Group by 251.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock worth $64,000 after buying an additional 8,507 shares in the last quarter.

Frontier Group Trading Down 1.5 %

Shares of ULCC opened at $5.26 on Thursday. The stock has a market cap of $1.20 billion, a PE ratio of 14.61 and a beta of 2.37. Frontier Group Holdings, Inc. has a 52-week low of $2.79 and a 52-week high of $10.26. The firm’s fifty day moving average is $7.56 and its two-hundred day moving average is $6.63. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.45.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings results on Friday, February 7th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.20. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. Research analysts forecast that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current fiscal year.

Insider Activity at Frontier Group

In other Frontier Group news, CEO Barry Biffle sold 160,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $7.88, for a total value of $1,260,800.00. Following the completion of the transaction, the chief executive officer now owns 1,024,817 shares of the company’s stock, valued at $8,075,557.96. This trade represents a 13.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Steve Schuller sold 5,000 shares of Frontier Group stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $7.07, for a total value of $35,350.00. Following the completion of the transaction, the senior vice president now owns 47,590 shares of the company’s stock, valued at $336,461.30. The trade was a 9.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 700,982 shares of company stock worth $5,811,797. Company insiders own 81.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ULCC shares. Citigroup reaffirmed a “neutral” rating and issued a $7.25 price target on shares of Frontier Group in a research report on Thursday, March 20th. Barclays raised their price objective on Frontier Group from $10.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft downgraded Frontier Group from a “buy” rating to a “hold” rating and cut their target price for the company from $12.00 to $8.00 in a research report on Tuesday, March 4th. UBS Group dropped their price objective on shares of Frontier Group from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. Finally, Susquehanna raised their price objective on shares of Frontier Group from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.58.

Frontier Group Company 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.