Simplicity Solutions LLC Purchases Shares of 20,398 Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Simplicity Solutions LLC acquired a new stake in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 20,398 shares of the company’s stock, valued at approximately $111,000.

Several other large investors also recently made changes to their positions in ULCC. Qube Research & Technologies Ltd bought a new position in shares of Frontier Group during the 3rd quarter valued at about $25,000. Signaturefd LLC bought a new position in shares of Frontier Group during the 3rd quarter valued at about $28,000. PNC Financial Services Group Inc. boosted its position in shares of Frontier Group by 632.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,768 shares of the company’s stock valued at $28,000 after purchasing an additional 4,980 shares in the last quarter. CWM LLC boosted its position in shares of Frontier Group by 1,705.7% during the 3rd quarter. CWM LLC now owns 6,627 shares of the company’s stock valued at $32,000 after purchasing an additional 6,260 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Frontier Group by 45.7% in 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.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. TD Cowen raised their target price on shares of Frontier Group from $5.00 to $12.00 and gave the stock a “market perform” rating in a report on Wednesday, February 7th. UBS Group assumed coverage on shares of Frontier Group in a report on Wednesday, March 20th. They issued a “neutral” rating and a $8.00 target price for the company. Morgan Stanley reiterated an “equal weight” rating and issued a $8.00 target price (down from $10.00) on shares of Frontier Group in a report on Monday, January 8th. Evercore ISI raised their target price on shares of Frontier Group from $7.00 to $8.50 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Finally, Susquehanna raised their target price on shares of Frontier Group from $5.00 to $7.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.78.

Frontier Group Price Performance

ULCC stock opened at $6.96 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 firm has a 50 day simple moving average of $7.36 and a 200 day simple moving average of $5.62. Frontier Group Holdings, Inc. has a 52 week low of $3.19 and a 52 week high of $10.57.

Insider Buying and Selling

In related news, CEO Barry Biffle sold 151,620 shares of the firm’s stock in a transaction that occurred on 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 81.50% of the stock is currently owned by corporate insiders.

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.