Counterpoint Mutual Funds LLC Buys Shares of 44,631 Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Counterpoint Mutual Funds LLC bought a new stake in Frontier Group Holdings, Inc. (NASDAQ:ULCC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 44,631 shares of the company’s stock, valued at approximately $317,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in shares of Frontier Group by 38.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after purchasing an additional 441,001 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Frontier Group by 247.8% in 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 last quarter. Highland Peak Capital LLC purchased a new position in shares of Frontier Group in the 4th quarter valued at approximately $6,492,000. Verition Fund Management LLC grew its stake in shares of Frontier Group by 235.7% in the 3rd quarter. Verition Fund Management LLC now owns 646,243 shares of the company’s stock valued at $3,457,000 after purchasing an additional 453,736 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Frontier Group by 81.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock valued at $3,205,000 after purchasing an additional 269,221 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Susquehanna raised their price target on Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Morgan Stanley raised their price target on Frontier Group from $7.00 to $10.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. Deutsche Bank Aktiengesellschaft cut Frontier Group from a “buy” rating to a “hold” rating and reduced their price target for the company from $12.00 to $8.00 in a report on Tuesday, March 4th. Barclays raised their price target on Frontier Group from $10.00 to $14.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, UBS Group raised their price target on Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Frontier Group presently has an average rating of “Hold” and an average target price of $7.74.

Frontier Group Stock Performance

Shares of ULCC stock opened at $6.15 on Tuesday. Frontier Group Holdings, Inc. has a 1 year low of $2.79 and a 1 year high of $10.26. The stock has a market cap of $1.40 billion, a PE ratio of 17.08 and a beta of 2.37. The stock has a fifty day moving average price of $7.93 and a 200 day moving average price of $6.56. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.48 and a current ratio of 0.53.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings results on Friday, February 7th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.20. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. Sell-side analysts forecast that Frontier Group Holdings, Inc. will post 0.91 earnings per share for the current fiscal year.

Insider Transactions at Frontier Group

In other news, SVP Alexandre Clerc sold 15,152 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $6.63, for a total value of $100,457.76. Following the completion of the transaction, the senior vice president now directly owns 23,912 shares of the company’s stock, valued at $158,536.56. The trade was a 38.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Barry Biffle sold 273,000 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $8.44, for a total value of $2,304,120.00. Following the completion of the transaction, the chief executive officer now directly owns 816,817 shares of the company’s stock, valued at approximately $6,893,935.48. This trade represents a 25.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 860,982 shares of company stock valued at $6,912,597 over the last three months. 81.50% of the stock is currently owned by insiders.

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.