Towle & Co. Increases Stake in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Towle & Co. raised its stake in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,348,882 shares of the company’s stock after buying an additional 134,723 shares during the quarter. Frontier Group comprises approximately 2.9% of Towle & Co.’s holdings, making the stock its 14th largest position. Towle & Co.’s holdings in Frontier Group were worth $16,701,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Frontier Group by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 8,186,633 shares of the company’s stock valued at $58,207,000 after acquiring an additional 26,682 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in Frontier Group by 31.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,396,885 shares of the company’s stock worth $17,042,000 after buying an additional 578,151 shares during the last quarter. Geode Capital Management LLC lifted its position in Frontier Group by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,625,953 shares of the company’s stock worth $11,564,000 after buying an additional 35,355 shares during the last quarter. Two Sigma Investments LP lifted its position in Frontier Group by 488.9% in the fourth quarter. Two Sigma Investments LP now owns 980,426 shares of the company’s stock worth $6,971,000 after buying an additional 813,929 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Frontier Group by 247.8% in 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 last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ULCC. Evercore ISI lowered their price target 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. Morgan Stanley raised their price target 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 lowered their price target 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 lowered their price target 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. Finally, Deutsche Bank Aktiengesellschaft downgraded Frontier Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $12.00 to $8.00 in a research report on Tuesday, March 4th. 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. According to MarketBeat, Frontier Group has an average rating of “Hold” and a consensus target price of $6.11.

Frontier Group Stock Up 2.0%

NASDAQ:ULCC opened at $4.17 on Monday. Frontier Group Holdings, Inc. has a twelve month low of $2.79 and a twelve month high of $10.26. The company has a market cap of $949.78 million, a price-to-earnings ratio of 11.58 and a beta of 2.55. The stock has a fifty day simple moving average of $4.10 and a 200-day simple moving average of $6.13. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45.

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

Insider Activity

In other news, SVP Alexandre Clerc sold 15,152 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now owns 23,912 shares in the company, valued at approximately $158,536.56. This trade represents a 38.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Howard Diamond sold 87,830 shares of the firm’s stock in a transaction on 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 owns 175,886 shares in the company, valued at approximately $1,542,520.22. This represents a 33.30% decrease in their position. 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.