Fortitude Family Office LLC Acquires 18,984 Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Fortitude Family Office LLC grew its stake in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 1,096.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,715 shares of the company’s stock after buying an additional 18,984 shares during the period. Fortitude Family Office LLC’s holdings in Frontier Group were worth $111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ULCC. AlTi Global Inc. bought a new position in shares of Frontier Group during the 2nd quarter valued at about $21,222,000. U S Global Investors Inc. lifted its position in shares of Frontier Group by 71.4% in the third quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock worth $40,473,000 after buying an additional 3,150,768 shares in the last quarter. Boston Partners boosted its stake in Frontier Group by 176.6% during the first quarter. Boston Partners now owns 1,053,270 shares of the company’s stock valued at $8,518,000 after buying an additional 672,471 shares during the last quarter. Jade Capital Advisors LLC grew its holdings in Frontier Group by 624.3% during the 3rd quarter. Jade Capital Advisors LLC now owns 249,436 shares of the company’s stock valued at $1,334,000 after buying an additional 215,000 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Frontier Group during the 2nd quarter worth approximately $1,011,000.

Frontier Group Price Performance

ULCC opened at $6.22 on Wednesday. The business has a fifty day moving average of $4.94 and a 200 day moving average of $4.97. The stock has a market cap of $1.40 billion, a P/E ratio of -21.45 and a beta of 2.55. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 0.43. Frontier Group Holdings, Inc. has a 52-week low of $2.79 and a 52-week high of $8.33.

Frontier Group (NASDAQ:ULCC) last issued its earnings results 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). Frontier Group had a negative net margin of 1.77% and a negative return on equity of 4.09%. The company had revenue of $935.00 million for the quarter, compared to analysts’ expectations of $943.30 million. During the same period in the prior year, the firm posted ($0.14) earnings per share. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Frontier Group Holdings, Inc. will post 0.06 EPS for the current year.

Insider Transactions at Frontier Group

In related news, SVP Steve Schuller sold 10,000 shares of the 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 transaction, the senior vice president now owns 34,035 shares of the company’s stock, valued at $204,210. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 81.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Susquehanna raised their target price on shares of Frontier Group from $3.00 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Raymond James upgraded shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research report on Monday, September 30th. TD Cowen lifted their price target on Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Monday, September 16th. Citigroup upped their price objective on Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Barclays dropped their target price on Frontier Group from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.02.

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.