Point72 Asset Management L.P. Invests $188,000 in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Point72 Asset Management L.P. acquired a new stake in Frontier Group Holdings, Inc. (NASDAQ:ULCC) during the third quarter, according to its most recent filing with the SEC. The firm acquired 35,093 shares of the company’s stock, valued at approximately $188,000.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. purchased a new position in Frontier Group in the second quarter worth $45,000. nVerses Capital LLC grew its position in Frontier Group by 152.5% during the second quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock worth $50,000 after buying an additional 6,100 shares during the period. Victory Capital Management Inc. purchased a new position in Frontier Group in the third quarter valued at about $54,000. Ballentine Partners LLC purchased a new stake in shares of Frontier Group during the 3rd quarter worth approximately $55,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Frontier Group in the 2nd quarter worth approximately $58,000.

Frontier Group Stock Performance

NASDAQ:ULCC opened at $6.31 on Friday. The firm has a 50-day moving average of $6.18 and a two-hundred day moving average of $4.96. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48. The stock has a market cap of $1.42 billion, a P/E ratio of -157.71 and a beta of 2.43. Frontier Group Holdings, Inc. has a 1-year low of $2.79 and a 1-year high of $8.33.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on ULCC. Barclays upped their target price on Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Citigroup upped their target price on Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Morgan Stanley cut their price target on Frontier Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday. Susquehanna boosted their target price on shares of Frontier Group from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft raised Frontier Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $6.00 to $8.00 in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $6.46.

Insider Transactions at Frontier Group

In related news, Director Josh T. Connor sold 30,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total transaction of $172,200.00. Following the completion of the sale, the director now owns 326,550 shares of the company’s stock, valued at $1,874,397. This represents a 8.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Steve Schuller sold 10,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $6.00, for a total transaction of $60,000.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 81.50% of the company’s stock.

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.