Frontier Group Holdings, Inc. (NASDAQ:ULCC) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 20.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,821,012 shares of the company’s stock after buying an additional 636,921 shares during the quarter. Vanguard Group Inc.’s holdings in Frontier Group were worth $18,494,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Ancient Art L.P. raised its stake in shares of Frontier Group by 52.3% in the third quarter. Ancient Art L.P. now owns 7,961,321 shares of the company’s stock worth $38,533,000 after purchasing an additional 2,734,104 shares during the last quarter. U S Global Investors Inc. raised its position in Frontier Group by 28.8% during the 3rd quarter. U S Global Investors Inc. now owns 7,178,180 shares of the company’s stock worth $34,742,000 after buying an additional 1,602,970 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Frontier Group by 2.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,466,278 shares of the company’s stock valued at $34,109,000 after acquiring an additional 92,170 shares during the period. BlackRock Inc. boosted its holdings in shares of Frontier Group by 6.8% in the 2nd quarter. BlackRock Inc. now owns 2,658,894 shares of the company’s stock valued at $25,712,000 after acquiring an additional 168,926 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Frontier Group by 6.7% in the second quarter. State Street Corp now owns 1,823,637 shares of the company’s stock worth $17,087,000 after acquiring an additional 114,348 shares during the period.

Insider Transactions at Frontier Group

In related news, CEO Barry Biffle sold 151,620 shares of Frontier Group stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $7.72, for a total value of $1,170,506.40. Following the sale, the chief executive officer now directly owns 772,981 shares in the company, valued at approximately $5,967,413.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 83.20% of the company’s stock.

Frontier Group Stock Performance

NASDAQ:ULCC opened at $6.72 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.48 and a current ratio of 0.53. The stock has a market capitalization of $1.50 billion, a PE ratio of -112.00 and a beta of 2.57. Frontier Group Holdings, Inc. has a fifty-two week low of $3.19 and a fifty-two week high of $10.57. The company has a fifty day moving average of $7.34 and a two-hundred day moving average of $5.55.

Analysts Set New Price Targets

ULCC has been the topic of several recent research reports. Evercore ISI upped their price target on shares of Frontier Group from $7.00 to $8.50 and gave the company an “in-line” rating in a report on Thursday, April 4th. Morgan Stanley reaffirmed an “equal weight” rating and set a $8.00 target price (down from $10.00) on shares of Frontier Group in a report on Monday, January 8th. UBS Group started coverage on Frontier Group in a report on Wednesday, March 20th. They issued a “neutral” rating and a $8.00 price target for the company. Susquehanna raised their price objective on shares of Frontier Group from $5.00 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Finally, Bank of America reiterated a “neutral” rating and issued a $6.00 target price (down from $8.00) on shares of Frontier Group in a research note on Tuesday, January 9th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $7.78.

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.