Lighthouse Investment Partners LLC Acquires New Position in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Lighthouse Investment Partners LLC purchased a new stake in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 119,436 shares of the company’s stock, valued at approximately $849,000. Lighthouse Investment Partners LLC owned 0.05% of Frontier Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ULCC. Barclays PLC lifted its position in shares of Frontier Group by 378.6% during the 3rd quarter. Barclays PLC now owns 72,866 shares of the company’s stock valued at $389,000 after acquiring an additional 57,642 shares during the period. Nisa Investment Advisors LLC lifted its position 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 acquiring an additional 7,380 shares during the period. Mutual Advisors LLC lifted its position in shares of Frontier Group by 4.5% during 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. R Squared Ltd acquired a new stake in shares of Frontier Group during the 4th quarter valued at approximately $32,000. Finally, Spire Wealth Management acquired a new stake in shares of Frontier Group during the 4th quarter valued at approximately $327,000.

Insider Buying and Selling at Frontier Group

In other news, SVP Alexandre Clerc sold 15,152 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 23,912 shares of the company’s stock, valued at $158,536.56. The trade was a 38.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Howard Diamond sold 87,830 shares of the business’s stock in a transaction on 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 represents a 33.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 48.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Morgan Stanley lifted their price objective on Frontier Group from $7.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. UBS Group cut their price objective on Frontier Group from $7.00 to $4.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Barclays cut their price objective on Frontier Group from $14.00 to $10.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Susquehanna cut their price objective on Frontier Group from $9.00 to $3.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Finally, Evercore ISI cut their price objective on Frontier Group from $7.00 to $5.00 and set an “in-line” rating for the company in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.11.

Frontier Group Trading Down 3.6%

Shares of ULCC opened at $4.23 on Thursday. The stock has a fifty day moving average of $4.17 and a two-hundred day moving average of $6.17. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.48 and a current ratio of 0.53. The company has a market capitalization of $963.45 million, a PE ratio of 11.75 and a beta of 2.55. Frontier Group Holdings, Inc. has a fifty-two week low of $2.79 and a fifty-two week high of $10.26.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.03. The company had revenue of $912.00 million during the quarter, compared to the consensus estimate of $996.05 million. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. Frontier Group’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.09) EPS. As a group, analysts forecast that Frontier Group Holdings, Inc. will post 0.91 EPS for the current year.

Frontier Group 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.