Frontier Group Holdings, Inc. (NASDAQ:ULCC) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in Frontier Group Holdings, Inc. (NASDAQ:ULCC) by 21.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 266,282 shares of the company’s stock after selling 73,506 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.12% of Frontier Group worth $1,425,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. OneDigital Investment Advisors LLC increased its holdings in Frontier Group by 4.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 309,838 shares of the company’s stock valued at $1,658,000 after purchasing an additional 14,459 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Frontier Group in the third quarter valued at $54,000. Catalina Capital Group LLC purchased a new stake in shares of Frontier Group in the 3rd quarter valued at $119,000. Mariner Investment Group LLC acquired a new position in Frontier Group during the 3rd quarter worth about $428,000. Finally, US Bancorp DE boosted its holdings in Frontier Group by 930.3% during the 3rd quarter. US Bancorp DE now owns 15,083 shares of the company’s stock valued at $81,000 after acquiring an additional 13,619 shares during the period.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. UBS Group initiated coverage on shares of Frontier Group in a research note on Tuesday. They set a “neutral” rating and a $6.00 price target on the stock. Citigroup upped their target price on shares of Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. TD Cowen raised their price target on shares of Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft cut their price objective on Frontier Group from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Finally, Bank of America decreased their target price on Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a report on Friday, September 13th. 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, the company presently has a consensus rating of “Hold” and an average price target of $6.32.

Insiders Place Their Bets

In related news, SVP Steve Schuller sold 10,000 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $6.00, for a total value of $60,000.00. Following the transaction, the senior vice president now directly owns 34,035 shares of the company’s stock, valued at $204,210. This trade represents a 22.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 81.50% of the stock is owned by corporate insiders.

Frontier Group Stock Performance

NASDAQ:ULCC opened at $5.57 on Wednesday. Frontier Group Holdings, Inc. has a 12 month low of $2.79 and a 12 month high of $8.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48. The firm has a market capitalization of $1.26 billion, a PE ratio of -139.22 and a beta of 2.51. The business’s fifty day moving average price is $5.84 and its 200 day moving average price is $4.94.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The firm had revenue of $935.00 million during the quarter, compared to analyst estimates of $943.30 million. The business’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.14) EPS. On average, sell-side analysts anticipate that Frontier Group Holdings, Inc. will post 0.04 earnings per share for the current fiscal year.

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.