Blue Trust Inc. Cuts Position in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Blue Trust Inc. cut its holdings in Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 60.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,056 shares of the company’s stock after selling 7,772 shares during the period. Blue Trust Inc.’s holdings in Frontier Group were worth $36,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. U S Global Investors Inc. grew its position in Frontier Group by 71.4% in the 3rd quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock valued at $40,473,000 after acquiring an additional 3,150,768 shares during the last quarter. Verition Fund Management LLC lifted its position in shares of Frontier Group by 235.7% during the third quarter. Verition Fund Management LLC now owns 646,243 shares of the company’s stock valued at $3,457,000 after buying an additional 453,736 shares during the last quarter. Geode Capital Management LLC boosted its stake in Frontier Group by 38.4% in the third quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after acquiring an additional 441,001 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Frontier Group by 81.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock worth $3,205,000 after buying an additional 269,221 shares during the last quarter. Finally, Jade Capital Advisors LLC increased its holdings in shares of Frontier Group by 624.3% during the third quarter. Jade Capital Advisors LLC now owns 249,436 shares of the company’s stock valued at $1,334,000 after acquiring an additional 215,000 shares in the last quarter.

Frontier Group Price Performance

Frontier Group stock opened at $9.34 on Monday. 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 stock has a market cap of $2.10 billion, a P/E ratio of -233.44 and a beta of 2.35. The company has a 50-day moving average price of $7.45 and a 200 day moving average price of $5.80. Frontier Group Holdings, Inc. has a 12-month low of $2.79 and a 12-month high of $9.67.

Frontier Group (NASDAQ:ULCC) last posted its earnings results on Friday, February 7th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.20. Sell-side analysts anticipate that Frontier Group Holdings, Inc. will post 0.12 earnings per share for the current year.

Insider Activity

In other Frontier Group news, Director Josh T. Connor sold 30,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total value of $172,200.00. Following the sale, the director now directly owns 326,550 shares of the company’s stock, valued at approximately $1,874,397. This represents a 8.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Steve Schuller sold 5,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total transaction of $35,350.00. Following the transaction, the senior vice president now owns 47,590 shares of the company’s stock, valued at approximately $336,461.30. The trade was a 9.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 788,000 shares of company stock valued at $6,214,070. 81.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. UBS Group raised their price objective on Frontier Group from $6.00 to $8.50 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Susquehanna lifted their price target on shares of Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Morgan Stanley decreased their price objective on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft raised shares of 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 note on Wednesday, December 11th. Finally, Citigroup lifted their price objective on Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Frontier Group presently has an average rating of “Hold” and an average target price of $6.96.

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.