10,122 Shares in Frontier Group Holdings, Inc. (NASDAQ:ULCC) Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. bought a new stake in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,122 shares of the company’s stock, valued at approximately $54,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Blue Trust Inc. bought a new stake in Frontier Group during the second quarter valued at about $45,000. nVerses Capital LLC lifted its position in shares of Frontier Group by 152.5% during the second quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock valued at $50,000 after buying an additional 6,100 shares during the last quarter. Ballentine Partners LLC bought a new stake in shares of Frontier Group in the 3rd quarter valued at about $55,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Frontier Group in the 2nd quarter worth approximately $58,000. Finally, Arizona State Retirement System raised its stake in shares of Frontier Group by 29.0% during the 2nd quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock worth $77,000 after acquiring an additional 3,521 shares in the last quarter.

Frontier Group Stock Performance

Shares of NASDAQ ULCC opened at $5.83 on Monday. The company has a 50 day simple moving average of $5.94 and a two-hundred day simple moving average of $4.94. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -145.71 and a beta of 2.51. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.57. 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 posted its earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The company had revenue of $935.00 million for the quarter, compared to the consensus estimate of $943.30 million. Frontier Group’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.14) EPS. As a group, analysts predict that Frontier Group Holdings, Inc. will post 0.04 earnings per share for the current year.

Insider Buying and Selling

In other Frontier Group news, SVP Steve Schuller sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $6.00, for a total value of $60,000.00. Following the sale, the senior vice president now owns 34,035 shares in the company, valued at approximately $204,210. This represents a 22.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 81.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ULCC shares. Barclays raised their target price on shares of Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft dropped their target price on Frontier Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a research report on Monday, September 30th. Evercore ISI raised their price target on Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Finally, Citigroup upped their price objective on shares of Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a report 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 company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.32.

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.