Wealth Enhancement Advisory Services LLC Acquires 7,546 Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Wealth Enhancement Advisory Services LLC boosted its holdings in Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 71.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,061 shares of the company’s stock after buying an additional 7,546 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Frontier Group were worth $78,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ULCC. Bank of New York Mellon Corp increased its position in Frontier Group by 32.7% during the 4th quarter. Bank of New York Mellon Corp now owns 138,739 shares of the company’s stock valued at $986,000 after purchasing an additional 34,192 shares during the period. Wealthfront Advisers LLC acquired a new stake in Frontier Group during the 4th quarter valued at approximately $177,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Frontier Group by 247.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 926,093 shares of the company’s stock valued at $6,585,000 after purchasing an additional 659,811 shares during the period. Counterpoint Mutual Funds LLC acquired a new stake in shares of Frontier Group during the 4th quarter worth approximately $317,000. Finally, Primecap Management Co. CA grew its position in shares of Frontier Group by 44.1% during the 4th quarter. Primecap Management Co. CA now owns 384,300 shares of the company’s stock worth $2,732,000 after buying an additional 117,700 shares during the period.

Insider Activity

In related news, SVP Alexandre Clerc sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $3.89, for a total value of $46,680.00. Following the transaction, the senior vice president owned 11,912 shares of the company’s stock, valued at approximately $46,337.68. This trade represents a 50.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 48.00% of the company’s stock.

Frontier Group Stock Up 8.7%

Shares of ULCC opened at $4.36 on Friday. The firm has a market cap of $993.03 million, a P/E ratio of 15.03 and a beta of 2.60. The stock has a 50 day simple moving average of $3.84 and a two-hundred day simple moving average of $5.51. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.49 and a quick ratio of 0.45. Frontier Group Holdings, Inc. has a 1 year low of $2.79 and a 1 year high of $10.26.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.03. Frontier Group had a return on equity of 5.53% and a net margin of 1.78%. The business had revenue of $912.00 million during the quarter, compared to analyst estimates of $996.05 million. During the same quarter last year, the firm posted ($0.09) earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts forecast that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ULCC has been the subject of several research reports. UBS Group set a $4.00 target price on Frontier Group and gave the company a “neutral” rating in a research note on Monday. Bank of America reduced their price objective on Frontier Group from $4.75 to $4.00 and set a “neutral” rating for the company in a research note on Tuesday, July 1st. Citigroup lowered their target price on Frontier Group from $7.25 to $4.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Morgan Stanley reduced their price target 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. Finally, Barclays lowered their price objective on shares of Frontier Group from $14.00 to $10.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.67.

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.