Blueshift Asset Management LLC Makes New Investment in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Blueshift Asset Management LLC purchased a new position in Frontier Group Holdings, Inc. (NASDAQ:ULCC) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 101,924 shares of the company’s stock, valued at approximately $725,000.

Several other institutional investors also recently added to or reduced their stakes in ULCC. R Squared Ltd bought a new position in Frontier Group in the 4th quarter worth approximately $32,000. Victory Capital Management Inc. bought a new stake in shares of Frontier Group during the third quarter valued at approximately $54,000. Nisa Investment Advisors LLC increased its position in shares of Frontier Group by 1,230.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock valued at $57,000 after purchasing an additional 7,380 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Frontier Group by 251.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock valued at $64,000 after purchasing an additional 8,507 shares during the period. Finally, IHT Wealth Management LLC bought a new stake in shares of Frontier Group during the third quarter valued at approximately $71,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ULCC shares. Susquehanna boosted their price objective on Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Barclays upped their price target on Frontier Group from $10.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. UBS Group upped their price target on Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lowered Frontier Group from a “buy” rating to a “hold” rating and cut their price target for the company from $12.00 to $8.00 in a research note on Tuesday, March 4th. Finally, Morgan Stanley upped their price target on Frontier Group from $7.00 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Frontier Group currently has an average rating of “Hold” and an average price target of $7.74.

Frontier Group Price Performance

Shares of ULCC opened at $5.96 on Thursday. The business has a 50-day simple moving average of $7.84 and a two-hundred day simple moving average of $6.57. Frontier Group Holdings, Inc. has a 12-month low of $2.79 and a 12-month high of $10.26. The stock has a market cap of $1.35 billion, a PE ratio of 16.56 and a beta of 2.37. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.45.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings data on Friday, February 7th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.03 by $0.20. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. Analysts anticipate that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current fiscal year.

Insider Transactions at Frontier Group

In other news, EVP Howard Diamond sold 87,830 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $8.77, for a total value of $770,269.10. Following the sale, the executive vice president now directly owns 175,886 shares in the company, valued at approximately $1,542,520.22. This trade represents a 33.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Alexandre Clerc sold 15,152 shares of Frontier Group stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $6.63, for a total transaction of $100,457.76. Following the completion of the sale, the senior vice president now directly owns 23,912 shares in the company, valued at approximately $158,536.56. The trade was a 38.79 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 860,982 shares of company stock valued at $6,912,597. 81.50% of the stock is currently owned by company insiders.

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.