US Bancorp DE Acquires 13,619 Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC)

US Bancorp DE boosted its stake in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 930.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 15,083 shares of the company’s stock after purchasing an additional 13,619 shares during the period. US Bancorp DE’s holdings in Frontier Group were worth $81,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in Frontier Group by 11.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,010 shares of the company’s stock valued at $211,000 after acquiring an additional 2,746 shares during the last quarter. Arizona State Retirement System lifted its stake in Frontier Group by 29.0% in the second quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock valued at $77,000 after purchasing an additional 3,521 shares during the last quarter. Rhumbline Advisers lifted its stake in Frontier Group by 2.3% in the second quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock valued at $789,000 after purchasing an additional 3,543 shares during the last quarter. Blue Trust Inc. grew its holdings in Frontier Group by 41.2% during the third quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock valued at $63,000 after purchasing an additional 3,744 shares during the period. Finally, XTX Topco Ltd increased its position in Frontier Group by 10.6% in the second quarter. XTX Topco Ltd now owns 41,103 shares of the company’s stock worth $203,000 after buying an additional 3,936 shares during the last quarter.

Insider Buying and Selling at Frontier Group

In other Frontier Group news, SVP Steve Schuller sold 10,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $6.00, for a total value of $60,000.00. Following the completion of the sale, the senior vice president now directly owns 34,035 shares in the company, valued at $204,210. This trade represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 81.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ULCC. JPMorgan Chase & Co. cut Frontier Group from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 30th. Citigroup upped their price objective on shares of Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Bank of America reduced their target price on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Evercore ISI upped their price target on shares of Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. Finally, Raymond James upgraded shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.52.

Frontier Group Stock Up 1.0 %

Shares of NASDAQ:ULCC opened at $6.80 on Friday. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -170.00 and a beta of 2.51. 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 firm has a fifty day moving average price of $5.67 and a two-hundred day moving average price of $4.96. Frontier Group Holdings, Inc. has a one year low of $2.79 and a one year high of $8.33.

Frontier Group (NASDAQ:ULCC) last issued its earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The business had revenue of $935.00 million during the quarter, compared to analyst estimates of $943.30 million. Frontier Group’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.14) earnings per share. Analysts anticipate that Frontier Group Holdings, Inc. will post 0.04 EPS for the current fiscal year.

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.