Boston Partners Increases Position in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Boston Partners increased its stake in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 176.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,053,270 shares of the company’s stock after buying an additional 672,471 shares during the quarter. Boston Partners’ holdings in Frontier Group were worth $8,518,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ULCC. Private Advisor Group LLC purchased a new position in shares of Frontier Group in the 4th quarter valued at approximately $59,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Frontier Group by 200.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,666 shares of the company’s stock valued at $64,000 after buying an additional 7,782 shares during the period. Quadrant Capital Group LLC raised its position in Frontier Group by 91.0% during the 4th quarter. Quadrant Capital Group LLC now owns 16,936 shares of the company’s stock worth $92,000 after buying an additional 8,067 shares during the last quarter. Simplicity Solutions LLC acquired a new stake in shares of Frontier Group in the 4th quarter worth $111,000. Finally, Bleakley Financial Group LLC purchased a new stake in shares of Frontier Group in the fourth quarter valued at about $111,000.

Frontier Group Price Performance

NASDAQ:ULCC traded down $0.35 during mid-day trading on Friday, hitting $3.39. 2,538,422 shares of the company’s stock traded hands, compared to its average volume of 1,707,482. Frontier Group Holdings, Inc. has a 1 year low of $3.19 and a 1 year high of $8.45. The company has a market cap of $759.22 million, a PE ratio of -28.25 and a beta of 2.50. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.46 and a current ratio of 0.50. The firm’s 50 day simple moving average is $4.69 and its 200 day simple moving average is $5.96.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.09. The business had revenue of $865.00 million during the quarter, compared to analysts’ expectations of $859.21 million. Frontier Group had a negative net margin of 0.67% and a positive return on equity of 3.62%. The company’s revenue was up 2.0% on a year-over-year basis. During the same period last year, the company posted ($0.06) EPS. Sell-side analysts expect that Frontier Group Holdings, Inc. will post 0.31 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Citigroup cut their price target on shares of Frontier Group from $7.00 to $5.35 and set a “neutral” rating for the company in a report on Wednesday, July 17th. Barclays reduced their price target on Frontier Group from $9.00 to $7.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Raymond James lowered Frontier Group from a “market perform” rating to an “underperform” rating in a report on Friday, July 5th. Deutsche Bank Aktiengesellschaft reduced their target price on Frontier Group from $7.00 to $5.00 and set a “hold” rating for the company in a report on Monday, July 8th. Finally, Susquehanna lowered their price target on shares of Frontier Group from $6.00 to $4.50 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.44.

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.