Frontier Group Holdings, Inc. (NASDAQ:ULCC) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 247.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 926,093 shares of the company’s stock after purchasing an additional 659,811 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.41% of Frontier Group worth $6,585,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in Frontier Group by 4.4% in the fourth quarter. Rhumbline Advisers now owns 55,354 shares of the company’s stock valued at $394,000 after buying an additional 2,334 shares during the last quarter. R Squared Ltd bought a new stake in Frontier Group in the 4th quarter valued at about $32,000. Nisa Investment Advisors LLC boosted its stake in Frontier Group by 1,230.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock valued at $57,000 after purchasing an additional 7,380 shares during the period. Mutual Advisors LLC grew its position in Frontier Group by 4.5% in the 4th quarter. Mutual Advisors LLC now owns 187,041 shares of the company’s stock worth $1,330,000 after purchasing an additional 8,000 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Frontier Group by 251.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock valued at $64,000 after purchasing an additional 8,507 shares during the period.

Insider Buying and Selling

In other news, SVP Steve Schuller sold 5,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total value of $35,350.00. Following the completion of the sale, the senior vice president now owns 47,590 shares of the company’s stock, valued at $336,461.30. This trade represents a 9.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Barry Biffle sold 160,000 shares of Frontier Group stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $6.88, for a total value of $1,100,800.00. Following the transaction, the chief executive officer now owns 784,817 shares in the company, valued at $5,399,540.96. This represents a 16.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 860,982 shares of company stock valued at $6,912,597. 81.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ULCC has been the subject of a number of recent analyst reports. UBS Group increased their price objective on Frontier Group from $6.00 to $8.50 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Barclays increased their price target on Frontier Group from $10.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Morgan Stanley lifted their price objective on shares of Frontier Group from $7.00 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. Susquehanna increased their target price on shares of Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Frontier Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $12.00 to $8.00 in a research report on Tuesday, March 4th. One 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.74.

Frontier Group Stock Up 3.5 %

ULCC stock opened at $5.95 on Friday. The firm has a market cap of $1.35 billion, a PE ratio of 16.53 and a beta of 2.37. Frontier Group Holdings, Inc. has a 12 month low of $2.79 and a 12 month high of $10.26. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.48. The firm has a 50 day simple moving average of $7.97 and a 200 day simple moving average of $6.52.

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 the consensus estimate of $0.03 by $0.20. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. Equities research analysts forecast that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current fiscal year.

About Frontier Group

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.