Voleon Capital Management LP Makes New Investment in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Voleon Capital Management LP acquired a new stake in Frontier Group Holdings, Inc. (NASDAQ:ULCC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 35,357 shares of the company’s stock, valued at approximately $251,000.

Several other large investors have also modified their holdings of ULCC. Vanguard Group Inc. raised its position in Frontier Group by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 8,186,633 shares of the company’s stock valued at $58,207,000 after purchasing an additional 26,682 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Frontier Group by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,625,953 shares of the company’s stock valued at $11,564,000 after buying an additional 35,355 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Frontier Group by 247.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 926,093 shares of the company’s stock worth $6,585,000 after buying an additional 659,811 shares during the period. Highland Peak Capital LLC purchased a new position in shares of Frontier Group during the fourth quarter worth about $6,492,000. Finally, Dimensional Fund Advisors LP increased its position in Frontier Group by 210.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 804,693 shares of the company’s stock valued at $5,721,000 after acquiring an additional 545,485 shares during the period.

Wall Street Analysts Forecast Growth

ULCC has been the topic of several analyst reports. Susquehanna lowered 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. Morgan Stanley boosted their price objective 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 reduced their target price on shares of Frontier Group from $7.00 to $4.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Barclays dropped their price target on shares of Frontier Group from $14.00 to $10.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Bank of America lowered their price objective on Frontier Group from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Frontier Group currently has an average rating of “Hold” and a consensus price target of $6.11.

Frontier Group Stock Performance

NASDAQ ULCC opened at $3.11 on Friday. The business has a 50 day moving average price of $4.76 and a 200 day moving average price of $6.35. 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 company has a market capitalization of $708.08 million, a P/E ratio of 8.64 and a beta of 2.52. Frontier Group Holdings, Inc. has a 1-year low of $2.79 and a 1-year high of $10.26.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.21). The firm had revenue of $912.00 million during the quarter, compared to analysts’ expectations of $996.05 million. Frontier Group had a net margin of 2.25% and a return on equity of 9.83%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.09) EPS. Sell-side analysts expect that Frontier Group Holdings, Inc. will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling at Frontier Group

In other Frontier Group 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 transaction of $770,269.10. Following the sale, the executive vice president now directly owns 175,886 shares of the company’s stock, valued at $1,542,520.22. This trade represents a 33.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Alexandre Clerc sold 15,152 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $6.63, for a total transaction of $100,457.76. Following the completion of the transaction, the senior vice president now directly owns 23,912 shares of the company’s stock, valued at approximately $158,536.56. This represents a 38.79 % decrease in their position. The disclosure for this sale can be found here. Insiders own 48.00% of the company’s stock.

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.