Frontier Group Holdings, Inc. (NASDAQ:ULCC) Stock Holdings Cut by Townsquare Capital LLC

Townsquare Capital LLC lessened its position in Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 21.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,181 shares of the company’s stock after selling 5,804 shares during the period. Townsquare Capital LLC’s holdings in Frontier Group were worth $113,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ULCC. AlTi Global Inc. bought a new stake in Frontier Group in the second quarter worth about $21,222,000. U S Global Investors Inc. grew its stake in shares of Frontier Group by 71.4% in the 3rd quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock worth $40,473,000 after purchasing an additional 3,150,768 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Frontier Group by 81.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock worth $3,205,000 after purchasing an additional 269,221 shares in the last quarter. Jade Capital Advisors LLC lifted its stake in Frontier Group by 624.3% during the third quarter. Jade Capital Advisors LLC now owns 249,436 shares of the company’s stock valued at $1,334,000 after purchasing an additional 215,000 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Frontier Group during the second quarter worth approximately $1,011,000.

Insider Buying and Selling

In related news, Director Josh T. Connor sold 30,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total value of $172,200.00. Following the transaction, the director now owns 326,550 shares in the company, valued at approximately $1,874,397. This represents a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Steve Schuller sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $6.00, for a total transaction of $60,000.00. Following the transaction, the senior vice president now directly owns 34,035 shares in the company, valued at approximately $204,210. The trade was a 22.71 % decrease in their position. The disclosure for this sale can be found here. 81.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ULCC has been the topic of several research reports. Barclays upped their price target on Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Susquehanna boosted their target price on Frontier Group from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Citigroup increased their price target on Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. TD Cowen lifted their price target on Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Monday, September 16th. Finally, UBS Group initiated coverage on shares of Frontier Group in a research note on Tuesday, November 26th. They set a “neutral” rating and a $6.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.32.

Frontier Group Price Performance

Shares of ULCC opened at $5.81 on Friday. The business’s 50-day moving average is $6.07 and its 200-day moving average is $4.94. 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 company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -145.21 and a beta of 2.43. Frontier Group Holdings, Inc. has a fifty-two week low of $2.79 and a fifty-two week high of $8.33.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The business had revenue of $935.00 million for the quarter, compared to analysts’ expectations of $943.30 million. During the same quarter in the previous year, the company posted ($0.14) EPS. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. Equities research analysts expect that Frontier Group Holdings, Inc. will post 0.04 EPS for the current fiscal 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.