Charles Schwab Investment Management Inc. Buys 269,221 Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Charles Schwab Investment Management Inc. lifted its stake in Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 81.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 599,006 shares of the company’s stock after purchasing an additional 269,221 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.27% of Frontier Group worth $3,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ULCC. Blue Trust Inc. purchased a new position in Frontier Group in the second quarter worth about $45,000. nVerses Capital LLC increased 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 acquiring an additional 6,100 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Frontier Group in the 3rd quarter worth approximately $54,000. Ballentine Partners LLC purchased a new position in Frontier Group in the 3rd quarter worth approximately $55,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Frontier Group in the 2nd quarter valued at approximately $58,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ULCC shares. Citigroup boosted their price target on Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft raised Frontier Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $6.00 to $8.00 in a research report on Wednesday. Bank of America lowered their target price on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Morgan Stanley decreased their price objective on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday. 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 research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.46.

Frontier Group Stock Down 2.6 %

Shares of ULCC stock opened at $6.31 on Friday. 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 Holdings, Inc. has a 12 month low of $2.79 and a 12 month high of $8.33. The company has a 50 day simple moving average of $6.18 and a two-hundred day simple moving average of $4.96.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings data 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 firm had revenue of $935.00 million for the quarter, compared to analysts’ expectations of $943.30 million. During the same period last year, the firm posted ($0.14) earnings per share. Frontier Group’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, analysts expect that Frontier Group Holdings, Inc. will post 0.05 EPS for the current fiscal year.

Insiders Place Their Bets

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 shares were sold at an average price of $6.00, for a total value of $60,000.00. Following the completion of the transaction, the senior vice president now directly owns 34,035 shares in the company, valued at $204,210. This represents a 22.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Josh T. Connor sold 30,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total transaction of $172,200.00. Following the completion of the sale, the director now directly owns 326,550 shares of the company’s stock, 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. Company insiders own 81.50% of the company’s stock.

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.