Intech Investment Management LLC Invests $72,000 in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Intech Investment Management LLC bought a new position in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 13,365 shares of the company’s stock, valued at approximately $72,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. U S Global Investors Inc. lifted its position in shares of Frontier Group by 71.4% during the 3rd quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock valued at $40,473,000 after acquiring an additional 3,150,768 shares during the period. AlTi Global Inc. bought a new position in shares of Frontier Group during the second quarter valued at about $21,222,000. SkyView Investment Advisors LLC boosted its stake in shares of Frontier Group by 18.5% in the 2nd quarter. SkyView Investment Advisors LLC now owns 325,444 shares of the company’s stock worth $1,604,000 after buying an additional 50,779 shares during the last quarter. OneDigital Investment Advisors LLC lifted its holdings in Frontier Group by 4.9% during the third quarter. OneDigital Investment Advisors LLC now owns 309,838 shares of the company’s stock worth $1,658,000 after acquiring an additional 14,459 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Frontier Group by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 309,282 shares of the company’s stock valued at $1,524,000 after purchasing an additional 21,829 shares during the last quarter.

Frontier Group Stock Performance

Shares of ULCC stock opened at $5.81 on Monday. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.57. Frontier Group Holdings, Inc. has a fifty-two week low of $2.79 and a fifty-two week high of $8.33. The stock has a 50 day moving average price of $6.07 and a two-hundred day moving average price of $4.93.

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

Wall Street Analyst Weigh In

ULCC has been the topic of a number of recent 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 research report on Thursday, November 14th. UBS Group began coverage on Frontier Group in a report on Tuesday, November 26th. They set a “neutral” rating and a $6.00 target price for the company. Citigroup lifted their price objective on Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. Finally, Evercore ISI boosted their price objective on Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $6.32.

Insider Buying and Selling at Frontier Group

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

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.