Frontier Group Holdings, Inc. (NASDAQ:ULCC) Shares Sold by Bank of America Corp DE

Bank of America Corp DE decreased its stake in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 29.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,140,990 shares of the company’s stock after selling 465,166 shares during the period. Bank of America Corp DE owned approximately 0.51% of Frontier Group worth $8,112,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. R Squared Ltd purchased a new position in Frontier Group in the 4th quarter worth about $32,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Frontier Group in the fourth quarter worth about $50,000. Nisa Investment Advisors LLC lifted its stake in shares of Frontier Group by 1,230.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock worth $57,000 after buying an additional 7,380 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Frontier Group during the fourth quarter valued at about $96,000. Finally, Aigen Investment Management LP bought a new position in Frontier Group in the 4th quarter worth approximately $96,000.

Insider Transactions at Frontier Group

In related news, SVP Alexandre Clerc sold 15,152 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $6.63, for a total value of $100,457.76. Following the completion of the sale, the senior vice president now directly owns 23,912 shares in the company, valued at approximately $158,536.56. This trade represents a 38.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 48.00% of the company’s stock.

Frontier Group Price Performance

Shares of NASDAQ ULCC opened at $3.67 on Monday. The company has a fifty day moving average price of $3.89 and a 200 day moving average price of $6.06. Frontier Group Holdings, Inc. has a 1-year low of $2.79 and a 1-year high of $10.26. The firm has a market cap of $835.90 million, a PE ratio of 10.19 and a beta of 2.55. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45.

Frontier Group (NASDAQ:ULCC) last announced its earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.03. The business had revenue of $912.00 million during the quarter, compared to analysts’ expectations of $996.05 million. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.09) earnings per share. Research analysts predict that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

ULCC has been the topic of several recent research reports. UBS Group decreased their price objective on Frontier Group from $7.00 to $4.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Bank of America reduced their price objective on Frontier Group from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Morgan Stanley dropped their price objective on shares of Frontier Group from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Monday, May 19th. Deutsche Bank Aktiengesellschaft cut shares of Frontier Group from a “buy” rating to a “hold” rating and lowered their price target for the stock from $12.00 to $8.00 in a research report on Tuesday, March 4th. Finally, Barclays cut their target price on Frontier Group from $14.00 to $10.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.00.

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.