Boston Partners Buys 672,471 Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Boston Partners raised its stake in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 176.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,053,270 shares of the company’s stock after purchasing an additional 672,471 shares during the period. Boston Partners owned 0.47% of Frontier Group worth $8,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of ULCC. Vanguard Group Inc. lifted its position in Frontier Group by 1.5% in the first quarter. Vanguard Group Inc. now owns 4,116,430 shares of the company’s stock worth $33,384,000 after buying an additional 60,943 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Frontier Group by 11.0% in the 1st quarter. Russell Investments Group Ltd. now owns 1,104,292 shares of the company’s stock worth $8,956,000 after acquiring an additional 109,418 shares during the last quarter. Jade Capital Advisors LLC boosted its stake in shares of Frontier Group by 2,400.0% during the 4th quarter. Jade Capital Advisors LLC now owns 500,000 shares of the company’s stock worth $2,730,000 after purchasing an additional 480,000 shares during the period. SkyView Investment Advisors LLC grew its holdings in Frontier Group by 15.9% during the 1st quarter. SkyView Investment Advisors LLC now owns 274,665 shares of the company’s stock valued at $2,228,000 after purchasing an additional 37,644 shares during the last quarter. Finally, Spire Wealth Management purchased a new stake in Frontier Group in the 4th quarter worth about $571,000.

Frontier Group Stock Down 9.4 %

Frontier Group stock traded down $0.35 during midday trading on Friday, hitting $3.39. 2,538,422 shares of the company’s stock were exchanged, compared to its average volume of 1,707,482. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.46 and a current ratio of 0.50. Frontier Group Holdings, Inc. has a 12 month low of $3.19 and a 12 month high of $8.45. The firm has a 50-day moving average of $4.69 and a two-hundred day moving average of $5.96. The company has a market cap of $759.22 million, a PE ratio of -28.25 and a beta of 2.50.

Frontier Group (NASDAQ:ULCC) last posted its earnings results on Thursday, May 2nd. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.09. Frontier Group had a positive return on equity of 3.62% and a negative net margin of 0.67%. The company had revenue of $865.00 million for the quarter, compared to analyst estimates of $859.21 million. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, analysts expect that Frontier Group Holdings, Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

ULCC has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on Frontier Group from $7.00 to $5.00 and set a “hold” rating for the company in a research report on Monday, July 8th. Citigroup cut their price objective on Frontier Group from $7.00 to $5.35 and set a “neutral” rating on the stock in a research report on Wednesday, July 17th. Barclays decreased their target price on Frontier Group from $9.00 to $7.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. TD Cowen lowered their target price on shares of Frontier Group from $6.50 to $4.00 and set a “hold” rating for the company in a research note on Wednesday, July 17th. Finally, Raymond James lowered shares of Frontier Group from a “market perform” rating to an “underperform” rating in a report on Friday, July 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Frontier Group presently has an average rating of “Hold” and an average target price of $6.44.

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.