Highland Peak Capital LLC Makes New Investment in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Highland Peak Capital LLC purchased a new position in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 913,110 shares of the company’s stock, valued at approximately $6,492,000. Frontier Group accounts for about 3.6% of Highland Peak Capital LLC’s investment portfolio, making the stock its 9th largest position.

Other large investors also recently bought and sold shares of the company. Rhumbline Advisers raised its stake in shares of Frontier Group by 4.4% in the 4th quarter. Rhumbline Advisers now owns 55,354 shares of the company’s stock valued at $394,000 after acquiring an additional 2,334 shares during the period. R Squared Ltd purchased a new position in shares of Frontier Group in the 4th quarter valued at $32,000. Nisa Investment Advisors LLC raised its stake in shares of Frontier Group by 1,230.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock valued at $57,000 after acquiring an additional 7,380 shares during the period. Mutual Advisors LLC raised its stake in shares of Frontier Group by 4.5% in the 4th quarter. Mutual Advisors LLC now owns 187,041 shares of the company’s stock valued at $1,330,000 after acquiring an additional 8,000 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Frontier Group by 251.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock valued at $64,000 after acquiring an additional 8,507 shares during the period.

Analyst Ratings Changes

A number of brokerages have recently commented on ULCC. Barclays raised their target price on shares of Frontier Group from $10.00 to $14.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Morgan Stanley raised their target price 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. UBS Group raised their target price on shares of Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Susquehanna raised their price target on shares of Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Frontier Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $12.00 to $8.00 in a report on Tuesday, March 4th. One 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 stock. According to MarketBeat, Frontier Group has an average rating of “Hold” and a consensus price target of $7.74.

Insider Transactions at Frontier Group

In other news, EVP Howard Diamond sold 87,830 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $8.77, for a total value of $770,269.10. Following the transaction, the executive vice president now directly owns 175,886 shares in the company, valued at approximately $1,542,520.22. This trade represents a 33.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Steve Schuller sold 5,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $7.07, for a total transaction of $35,350.00. Following the completion of the transaction, the senior vice president now owns 47,590 shares in the company, valued at approximately $336,461.30. The trade was a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 845,830 shares of company stock worth $6,812,139. 81.50% of the stock is currently owned by insiders.

Frontier Group Price Performance

Shares of ULCC stock opened at $6.64 on Monday. The firm has a market cap of $1.51 billion, a P/E ratio of 18.44 and a beta of 2.37. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.48. Frontier Group Holdings, Inc. has a 1-year low of $2.79 and a 1-year high of $10.26. The firm has a fifty day moving average of $8.09 and a two-hundred day moving average of $6.45.

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

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.