Frontier Group Holdings, Inc. (NASDAQ:ULCC) Shares Sold by Fmr LLC

Fmr LLC reduced its holdings in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 82.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,412 shares of the company’s stock after selling 155,227 shares during the period. Fmr LLC’s holdings in Frontier Group were worth $179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Arizona State Retirement System grew its stake in shares of Frontier Group by 29.0% during the second 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 during the last quarter. Rhumbline Advisers boosted its stake in Frontier Group by 2.3% in the 2nd quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock worth $789,000 after purchasing an additional 3,543 shares in the last quarter. Blue Trust Inc. grew its position in Frontier Group by 41.2% during the 3rd quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock worth $63,000 after purchasing an additional 3,744 shares during the last quarter. XTX Topco Ltd increased its stake in Frontier Group by 10.6% during the 2nd quarter. XTX Topco Ltd now owns 41,103 shares of the company’s stock valued at $203,000 after purchasing an additional 3,936 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Frontier Group by 27.3% in the second quarter. The Manufacturers Life Insurance Company now owns 19,970 shares of the company’s stock worth $98,000 after buying an additional 4,279 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Bank of America dropped their price objective on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Barclays boosted their price target on Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. TD Cowen raised their price objective on Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Monday, September 16th. Citigroup upped their target price on Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft raised shares of Frontier Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $6.00 to $8.00 in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.46.

Insider Activity

In other news, Director Josh T. Connor sold 30,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 326,550 shares in the company, valued at $1,874,397. This trade represents a 8.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Steve Schuller sold 10,000 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $6.00, for a total transaction of $60,000.00. Following the completion of the sale, the senior vice president now directly owns 34,035 shares of the company’s stock, valued at approximately $204,210. The trade was a 22.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 81.50% of the company’s stock.

Frontier Group Price Performance

Shares of NASDAQ ULCC opened at $6.75 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -168.71 and a beta of 2.43. The firm’s 50 day simple moving average is $6.24 and its 200-day simple moving average is $5.00. 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 the consensus estimate 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. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.14) EPS. Analysts expect that Frontier Group Holdings, Inc. will post 0.05 EPS for the current year.

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.