Alliancebernstein L.P. Decreases Stock Holdings in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Alliancebernstein L.P. cut its stake in Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 64.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,980 shares of the company’s stock after selling 60,350 shares during the period. Alliancebernstein L.P.’s holdings in Frontier Group were worth $242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in shares of Frontier Group by 162.2% during the 4th quarter. JPMorgan Chase & Co. now owns 50,902 shares of the company’s stock worth $362,000 after acquiring an additional 31,492 shares during the period. Vanguard Group Inc. increased its position in Frontier Group by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 8,186,633 shares of the company’s stock worth $58,207,000 after purchasing an additional 26,682 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Frontier Group during the fourth quarter worth about $50,000. American Century Companies Inc. acquired a new position in Frontier Group in the 4th quarter valued at about $379,000. Finally, Blueshift Asset Management LLC purchased a new stake in shares of Frontier Group in the 4th quarter valued at approximately $725,000.

Frontier Group Price Performance

Shares of NASDAQ ULCC opened at $3.06 on Tuesday. The stock’s 50-day simple moving average is $5.63 and its 200-day simple moving average is $6.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.48 and a current ratio of 0.53. The firm has a market capitalization of $695.38 million, a PE ratio of 8.50 and a beta of 2.52. Frontier Group Holdings, Inc. has a fifty-two week low of $2.79 and a fifty-two week high of $10.26.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data on Friday, February 7th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.20. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. As a group, equities research analysts forecast that Frontier Group Holdings, Inc. will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling at Frontier Group

In related news, EVP Howard Diamond sold 87,830 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $8.77, for a total transaction of $770,269.10. Following the completion of the sale, the executive vice president now owns 175,886 shares in the company, valued at $1,542,520.22. This represents a 33.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Alexandre Clerc sold 15,152 shares of Frontier Group stock in a transaction on Friday, March 7th. The shares were sold at an average price of $6.63, for a total transaction of $100,457.76. Following the completion of the transaction, the senior vice president now owns 23,912 shares in the company, valued at approximately $158,536.56. This represents a 38.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 48.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on ULCC. Deutsche Bank Aktiengesellschaft cut Frontier Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $12.00 to $8.00 in a report on Tuesday, March 4th. Morgan Stanley boosted their price objective on Frontier Group from $7.00 to $10.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. Barclays dropped their target price on Frontier Group from $14.00 to $10.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Citigroup lowered their price objective on shares of Frontier Group from $7.25 to $4.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, Evercore ISI cut their target price on shares of Frontier Group from $7.00 to $5.00 and set an “in-line” rating on the stock in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Frontier Group presently has an average rating of “Hold” and a consensus target price of $6.11.

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.