UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $372,000 Position in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 21.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,525 shares of the company’s stock after selling 19,446 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Frontier Group were worth $372,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ULCC. Bank of New York Mellon Corp grew its stake in shares of Frontier Group by 24.3% during the second quarter. Bank of New York Mellon Corp now owns 130,509 shares of the company’s stock worth $643,000 after buying an additional 25,523 shares during the last quarter. nVerses Capital LLC boosted its holdings in shares of Frontier Group by 152.5% during the 2nd 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. Rhumbline Advisers grew its position in Frontier Group by 2.3% during the 2nd quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock worth $789,000 after acquiring an additional 3,543 shares during the last quarter. Arizona State Retirement System increased its holdings in Frontier Group by 29.0% in the 2nd quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock worth $77,000 after purchasing an additional 3,521 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Frontier Group in the second quarter valued at about $415,000.

Frontier Group Stock Performance

Shares of Frontier Group stock opened at $6.75 on Friday. The business has a 50-day moving average price of $6.24 and a two-hundred day moving average price of $5.00. Frontier Group Holdings, Inc. has a 1-year low of $2.79 and a 1-year high of $8.33. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.57. The company has a market cap of $1.52 billion, a P/E ratio of -168.71 and a beta of 2.43.

Frontier Group (NASDAQ:ULCC) last released its 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 during the quarter, compared to analyst estimates of $943.30 million. During the same period in the prior year, the company earned ($0.14) earnings per share. Frontier Group’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, analysts anticipate that Frontier Group Holdings, Inc. will post 0.05 EPS for the current year.

Insider Activity

In related news, Director Josh T. Connor sold 30,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total value 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 $1,874,397. The trade was 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 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 completion of the transaction, the senior vice president now owns 34,035 shares in the company, valued at approximately $204,210. The trade was a 22.71 % decrease in their position. The disclosure for this sale can be found here. 81.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on ULCC. Susquehanna boosted their price target on Frontier Group from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. UBS Group assumed coverage on shares of Frontier Group in a research report on Tuesday, November 26th. They issued a “neutral” rating and a $6.00 price target for the company. Citigroup raised their price target on shares of Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Raymond James raised shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. Finally, Evercore ISI raised their target price on Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Frontier Group currently has a consensus rating of “Hold” and an average price target of $6.46.

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.