Geode Capital Management LLC Increases Holdings in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Geode Capital Management LLC increased its holdings in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 38.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,590,598 shares of the company’s stock after purchasing an additional 441,001 shares during the quarter. Geode Capital Management LLC owned approximately 0.71% of Frontier Group worth $8,512,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. nVerses Capital LLC increased its holdings in shares of Frontier Group by 152.5% in the second quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock worth $50,000 after purchasing an additional 6,100 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Frontier Group in the 3rd quarter worth approximately $54,000. Ballentine Partners LLC bought a new position in shares of Frontier Group during the 3rd quarter valued at approximately $55,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Frontier Group in the second quarter valued at $58,000. Finally, Blue Trust Inc. increased its position in Frontier Group by 41.2% in the third 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.

Wall Street Analyst Weigh In

ULCC has been the topic of a number of research reports. TD Cowen boosted their target price on shares of Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Monday, September 16th. Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. Susquehanna raised their price objective on Frontier Group from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Morgan Stanley decreased their price target on Frontier Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Finally, Barclays raised their price target on Frontier Group from $7.00 to $10.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.46.

Frontier Group Trading Up 1.7 %

ULCC stock opened at $7.23 on Friday. Frontier Group Holdings, Inc. has a 12 month low of $2.79 and a 12 month high of $8.33. The firm’s 50-day moving average is $6.34 and its 200 day moving average is $5.10. The company has a market capitalization of $1.63 billion, a PE ratio of -180.70 and a beta of 2.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48.

Frontier Group (NASDAQ:ULCC) last issued its earnings results on Tuesday, October 29th. The company reported ($0.05) 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 analyst estimates of $943.30 million. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.14) earnings per share. On average, research analysts anticipate that Frontier Group Holdings, Inc. will post 0.05 EPS for the current year.

Insider Buying and Selling at Frontier Group

In other Frontier Group news, Director Josh T. Connor sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were 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 of the company’s stock, valued at approximately $1,874,397. This trade represents a 8.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Barry Biffle sold 160,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $6.88, for a total transaction of $1,100,800.00. Following the completion of the sale, the chief executive officer now directly owns 784,817 shares of the company’s stock, valued at $5,399,540.96. The trade was a 16.93 % decrease in their position. The disclosure for this sale can be found here. 81.50% of the stock is currently owned by corporate insiders.

Frontier Group 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.