Frontier Group Holdings, Inc. (NASDAQ:ULCC) Shares Acquired by Primecap Management Co. CA

Primecap Management Co. CA grew its stake in Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 44.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 384,300 shares of the company’s stock after acquiring an additional 117,700 shares during the quarter. Primecap Management Co. CA’s holdings in Frontier Group were worth $2,732,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ULCC. Geode Capital Management LLC grew its holdings in Frontier Group by 38.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after buying an additional 441,001 shares in the last quarter. Algert Global LLC grew its holdings in shares of Frontier Group by 80.2% in the third quarter. Algert Global LLC now owns 451,508 shares of the company’s stock valued at $2,416,000 after purchasing an additional 200,885 shares during the period. Victory Capital Management Inc. acquired a new stake in Frontier Group during the third quarter worth about $54,000. Barclays PLC raised its stake in Frontier Group by 378.6% during the third quarter. Barclays PLC now owns 72,866 shares of the company’s stock worth $389,000 after purchasing an additional 57,642 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in Frontier Group by 1,230.0% in the 4th 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 last quarter.

Insider Buying and Selling

In other news, SVP Alexandre Clerc sold 15,152 shares of the business’s stock in a transaction that occurred on 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 owns 23,912 shares in the company, valued at approximately $158,536.56. The trade was a 38.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Barry Biffle sold 160,000 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $6.88, for a total transaction of $1,100,800.00. Following the completion of the transaction, the chief executive officer now directly owns 784,817 shares in the company, valued at $5,399,540.96. This trade represents a 16.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 860,982 shares of company stock worth $6,912,597 over the last 90 days. 81.50% of the stock is owned by insiders.

Frontier Group Price Performance

Frontier Group stock opened at $5.96 on Thursday. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45. The company has a fifty day simple moving average of $7.84 and a 200-day simple moving average of $6.57. The stock has a market cap of $1.35 billion, a P/E ratio of 16.56 and a beta of 2.37. Frontier Group Holdings, Inc. has a 12-month low of $2.79 and a 12-month high of $10.26.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data 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. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. Equities analysts expect that Frontier Group Holdings, Inc. will post 0.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.