Bleakley Financial Group LLC Takes Position in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Bleakley Financial Group LLC acquired a new position in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 20,398 shares of the company’s stock, valued at approximately $111,000.

Several other large investors have also recently bought and sold shares of the business. Qube Research & Technologies Ltd purchased a new stake in shares of Frontier Group during the 3rd quarter worth $25,000. Signaturefd LLC acquired a new stake in shares of Frontier Group in the third quarter valued at about $28,000. PNC Financial Services Group Inc. boosted its holdings in Frontier Group by 632.0% during the third quarter. PNC Financial Services Group Inc. now owns 5,768 shares of the company’s stock worth $28,000 after buying an additional 4,980 shares in the last quarter. CWM LLC grew its position in Frontier Group by 1,705.7% during the third quarter. CWM LLC now owns 6,627 shares of the company’s stock worth $32,000 after buying an additional 6,260 shares during the period. Finally, Royal Bank of Canada grew its position in Frontier Group by 45.7% during the third quarter. Royal Bank of Canada now owns 3,387 shares of the company’s stock worth $32,000 after buying an additional 1,062 shares during the period.

Insider Buying and Selling at Frontier Group

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

Frontier Group Trading Down 3.8 %

Frontier Group stock opened at $6.50 on Wednesday. The stock has a 50-day moving average price of $7.38 and a 200 day moving average price of $5.57. Frontier Group Holdings, Inc. has a 52 week low of $3.19 and a 52 week high of $10.57. The stock has a market cap of $1.45 billion, a PE ratio of -108.33 and a beta of 2.57. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.50.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ULCC. Susquehanna lifted their price target on shares of Frontier Group from $5.00 to $7.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. UBS Group assumed coverage on Frontier Group in a report on Wednesday, March 20th. They set a “neutral” rating and a $8.00 price objective for the company. Bank of America reissued a “neutral” rating and issued a $6.00 target price (down previously from $8.00) on shares of Frontier Group in a report on Tuesday, January 9th. Barclays raised their price target on Frontier Group from $7.00 to $9.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Finally, TD Cowen boosted their price objective on shares of Frontier Group from $5.00 to $12.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 7th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.78.

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.