Point72 Asset Management L.P. Makes New Investment in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Point72 Asset Management L.P. purchased a new stake in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 35,093 shares of the company’s stock, valued at approximately $188,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. bought a new stake in Frontier Group during the second quarter worth approximately $45,000. nVerses Capital LLC boosted its stake in 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 purchasing an additional 6,100 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Frontier Group during the 3rd quarter valued at $54,000. Ballentine Partners LLC bought a new stake in shares of Frontier Group in the 3rd quarter worth $55,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Frontier Group in the second quarter valued at $58,000.

Wall Street Analysts Forecast Growth

ULCC has been the topic of a number of research analyst reports. Bank of America lowered their target price on Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Evercore ISI lifted their price objective on shares of Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. UBS Group started coverage on shares of Frontier Group in a research note on Tuesday, November 26th. They set a “neutral” rating and a $6.00 target price for the company. Citigroup lifted their price target on shares of Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Raymond James upgraded Frontier Group from an “underperform” rating to a “market perform” rating in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.46.

Frontier Group Stock Performance

Shares of Frontier Group stock opened at $6.31 on Friday. Frontier Group Holdings, Inc. has a 12 month low of $2.79 and a 12 month high of $8.33. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57. The stock has a market cap of $1.42 billion, a PE ratio of -157.71 and a beta of 2.43. The business has a fifty day simple moving average of $6.18 and a 200-day simple moving average of $4.96.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The business had revenue of $935.00 million during the quarter, compared to analysts’ expectations of $943.30 million. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.14) EPS. On average, sell-side analysts anticipate that Frontier Group Holdings, Inc. will post 0.04 EPS for the current fiscal year.

Insider Activity at Frontier Group

In related news, SVP Steve Schuller sold 10,000 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $6.00, for a total transaction 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 approximately $204,210. This trade represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Josh T. Connor sold 30,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total value of $172,200.00. Following the completion of the transaction, the director now owns 326,550 shares in the company, valued at $1,874,397. This trade represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. 81.50% of the stock is currently owned by insiders.

Frontier Group Company 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.