Schonfeld Strategic Advisors LLC Sells 176,821 Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Schonfeld Strategic Advisors LLC lessened its stake in Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 8.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,891,351 shares of the company’s stock after selling 176,821 shares during the period. Schonfeld Strategic Advisors LLC owned 0.84% of Frontier Group worth $13,448,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ULCC. R Squared Ltd bought a new position in shares of Frontier Group during the 4th quarter valued at about $32,000. KLP Kapitalforvaltning AS bought a new position in shares of Frontier Group during the 4th quarter valued at about $50,000. Nisa Investment Advisors LLC lifted its holdings in shares of Frontier Group by 1,230.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock valued at $57,000 after purchasing an additional 7,380 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of Frontier Group during the 4th quarter valued at about $96,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Frontier Group during the 4th quarter valued at about $96,000.

Frontier Group Stock Down 1.9 %

NASDAQ:ULCC opened at $3.13 on Wednesday. The firm has a market capitalization of $711.29 million, a price-to-earnings ratio of 8.69 and a beta of 2.52. Frontier Group Holdings, Inc. has a twelve month low of $2.79 and a twelve month high of $10.26. The stock’s 50 day moving average price is $4.95 and its two-hundred day moving average price is $6.39. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.45.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ULCC. Barclays cut their price objective on Frontier Group from $14.00 to $10.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Citigroup cut their target price on Frontier Group from $7.25 to $4.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Susquehanna cut their target price on Frontier Group from $9.00 to $3.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Bank of America cut their target price on Frontier Group from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Finally, Deutsche Bank Aktiengesellschaft cut Frontier Group from a “buy” rating to a “hold” rating and cut their target price for the company from $12.00 to $8.00 in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Frontier Group has a consensus rating of “Hold” and an average price target of $6.11.

Insiders Place Their Bets

In related news, EVP Howard Diamond sold 87,830 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $8.77, for a total transaction of $770,269.10. Following the transaction, the executive vice president now directly owns 175,886 shares of the company’s stock, valued at approximately $1,542,520.22. The trade was a 33.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $100,457.76. Following the transaction, the senior vice president now directly owns 23,912 shares in the company, valued at $158,536.56. The trade was a 38.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 48.00% 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.