Frontier Group Holdings, Inc. (NASDAQ:ULCC) Shares Acquired by Verition Fund Management LLC

Verition Fund Management LLC increased its holdings in Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 235.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 646,243 shares of the company’s stock after acquiring an additional 453,736 shares during the quarter. Verition Fund Management LLC owned approximately 0.29% of Frontier Group worth $3,457,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of ULCC. Vanguard Group Inc. raised its stake in Frontier Group by 1.5% during the first quarter. Vanguard Group Inc. now owns 4,116,430 shares of the company’s stock valued at $33,384,000 after buying an additional 60,943 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Frontier Group by 11.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,010 shares of the company’s stock valued at $211,000 after buying an additional 2,746 shares in the last quarter. Simplicity Wealth LLC raised its stake in Frontier Group by 17.6% during the second quarter. Simplicity Wealth LLC now owns 29,532 shares of the company’s stock valued at $146,000 after buying an additional 4,428 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Frontier Group during the second quarter valued at approximately $659,000. Finally, Blue Trust Inc. acquired a new stake in Frontier Group during the second quarter valued at approximately $45,000.

Analyst Ratings Changes

Several analysts have issued reports on ULCC shares. Bank of America cut their price objective on Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. UBS Group initiated coverage on Frontier Group in a report on Tuesday, November 26th. They set a “neutral” rating and a $6.00 target price for the company. TD Cowen upped their target price on Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a report on Monday, September 16th. Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. Finally, Susquehanna upped their target price on Frontier Group from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.32.

Frontier Group Stock Performance

Shares of ULCC stock opened at $5.80 on Wednesday. Frontier Group Holdings, Inc. has a 12-month low of $2.79 and a 12-month high of $8.33. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -144.96 and a beta of 2.43. The business has a 50 day simple moving average of $5.98 and a 200 day simple moving average of $4.93. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The company had revenue of $935.00 million during the quarter, compared to analyst estimates of $943.30 million. During the same period last year, the business earned ($0.14) earnings per share. Frontier Group’s quarterly revenue was up 5.9% on a year-over-year basis. On average, equities research analysts anticipate that Frontier Group Holdings, Inc. will post 0.04 EPS for the current year.

Insider Buying and Selling

In other Frontier Group news, SVP Steve Schuller sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $6.00, for a total value of $60,000.00. Following the completion of the sale, the senior vice president now directly owns 34,035 shares in the company, valued at $204,210. This represents a 22.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 81.50% of the company’s stock.

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.