SkyView Investment Advisors LLC Increases Stake in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

SkyView Investment Advisors LLC raised its holdings in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 18.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 325,444 shares of the company’s stock after purchasing an additional 50,779 shares during the quarter. SkyView Investment Advisors LLC owned approximately 0.15% of Frontier Group worth $1,604,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ULCC. The Manufacturers Life Insurance Company lifted its stake in shares of Frontier Group by 27.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,970 shares of the company’s stock valued at $98,000 after buying an additional 4,279 shares in the last quarter. AlTi Global Inc. bought a new position in shares of Frontier Group in the second quarter worth $21,222,000. Squarepoint Ops LLC purchased a new position in shares of Frontier Group in the second quarter valued at $302,000. Marshall Wace LLP bought a new stake in shares of Frontier Group during the 2nd quarter valued at $1,011,000. Finally, XTX Topco Ltd raised its stake in shares of 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 during the period.

Wall Street Analyst Weigh In

ULCC has been the subject of a number of recent analyst reports. Citigroup lifted their target price on Frontier Group from $3.50 to $4.70 and gave the company a “neutral” rating in a report on Monday, September 16th. Raymond James cut shares of Frontier Group from a “market perform” rating to an “underperform” rating in a research note on Friday, July 5th. 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. Barclays reduced their price target on shares of Frontier Group from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Finally, TD Cowen increased their price objective on Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Monday, September 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.92.

Frontier Group Stock Down 0.2 %

ULCC opened at $4.84 on Friday. The business’s fifty day simple moving average is $3.77 and its 200 day simple moving average is $5.17. Frontier Group Holdings, Inc. has a 52 week low of $2.79 and a 52 week high of $8.33. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 0.43. The stock has a market cap of $1.09 billion, a PE ratio of -40.33 and a beta of 2.49.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $973.00 million for the quarter, compared to analysts’ expectations of $1.03 billion. Frontier Group had a negative return on equity of 4.09% and a negative net margin of 1.77%. Frontier Group’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm posted $0.31 EPS. As a group, research analysts expect that Frontier Group Holdings, Inc. will post -0.01 earnings per share for the current fiscal year.

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.