Frontier Group Holdings, Inc. (NASDAQ:ULCC) Shares Sold by American Century Companies Inc.

American Century Companies Inc. lessened its stake in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 85.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,713 shares of the company’s stock after selling 68,435 shares during the quarter. American Century Companies Inc.’s holdings in Frontier Group were worth $58,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Boston Partners lifted its position in Frontier Group by 176.6% in the first quarter. Boston Partners now owns 1,053,270 shares of the company’s stock valued at $8,518,000 after acquiring an additional 672,471 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Frontier Group in the 2nd quarter valued at about $659,000. Russell Investments Group Ltd. boosted its position in shares of Frontier Group by 11.0% in the 1st quarter. Russell Investments Group Ltd. now owns 1,104,292 shares of the company’s stock valued at $8,956,000 after purchasing an additional 109,418 shares during the period. Los Angeles Capital Management LLC purchased a new position in Frontier Group during the 2nd quarter worth approximately $415,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Frontier Group during the first quarter worth approximately $494,000.

Wall Street Analyst Weigh In

ULCC has been the subject of several research analyst reports. TD Cowen increased their price objective on Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a report on Monday, September 16th. Raymond James upgraded shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. Susquehanna lowered their price objective on shares of Frontier Group from $4.50 to $3.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. JPMorgan Chase & Co. cut shares of Frontier Group from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 30th. Finally, Bank of America decreased 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. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.57.

Frontier Group Stock Performance

NASDAQ ULCC opened at $5.81 on Friday. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -48.41 and a beta of 2.55. The business’s 50 day moving average is $3.92 and its two-hundred day moving average is $5.11. Frontier Group Holdings, Inc. has a 12-month low of $2.79 and a 12-month high of $8.33. The company has a current ratio of 0.52, a quick ratio of 0.48 and a debt-to-equity ratio of 0.43.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm had revenue of $973.00 million during 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 was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.31 earnings per share. Research analysts expect that Frontier Group Holdings, Inc. will post 0.05 EPS for the current 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.