Primecap Management Co. CA Grows Position in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Primecap Management Co. CA grew its stake in Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 44.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 384,300 shares of the company’s stock after buying an additional 117,700 shares during the period. Primecap Management Co. CA owned 0.17% of Frontier Group worth $2,732,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rhumbline Advisers increased its position 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 acquired a new position in shares of Frontier Group in the fourth quarter valued at about $32,000. Nisa Investment Advisors LLC raised its stake in shares of Frontier Group by 1,230.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock worth $57,000 after purchasing an additional 7,380 shares during the last quarter. Mutual Advisors LLC lifted its holdings in shares of Frontier Group by 4.5% during the fourth 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 period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in 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 buying an additional 8,507 shares during the last quarter.

Insider Buying and Selling

In other Frontier Group news, SVP Alexandre Clerc sold 15,152 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $6.63, for a total transaction of $100,457.76. Following the completion of the sale, the senior vice president now directly owns 23,912 shares in the company, valued at approximately $158,536.56. The trade was a 38.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Steve Schuller sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $7.07, for a total value 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. This trade represents a 9.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 860,982 shares of company stock worth $6,912,597 in the last 90 days. Insiders own 81.50% of the company’s stock.

Analyst Ratings Changes

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

Frontier Group Stock Up 0.3 %

Frontier Group stock opened at $5.96 on Thursday. 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 stock has a market capitalization of $1.35 billion, a PE ratio of 16.56 and a beta of 2.37. The business has a 50 day simple moving average of $7.84 and a 200-day simple moving average of $6.57. Frontier Group Holdings, Inc. has a 12 month low of $2.79 and a 12 month high of $10.26.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings results on Friday, February 7th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.03 by $0.20. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. On average, analysts anticipate that Frontier Group Holdings, Inc. will post 0.91 EPS 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.