Brevan Howard Capital Management LP Makes New $239,000 Investment in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Brevan Howard Capital Management LP purchased a new position in Frontier Group Holdings, Inc. (NASDAQ:ULCC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 33,646 shares of the company’s stock, valued at approximately $239,000.

Several other hedge funds and other institutional investors have also modified their holdings of ULCC. R Squared Ltd acquired a new position in Frontier Group in the fourth quarter valued at approximately $32,000. KLP Kapitalforvaltning AS bought a new position in Frontier Group during the 4th quarter worth $50,000. Nisa Investment Advisors LLC lifted its stake in Frontier Group by 1,230.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock valued at $57,000 after buying an additional 7,380 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Frontier Group during the fourth quarter valued at $96,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Frontier Group during the fourth quarter worth about $96,000.

Insider Transactions at Frontier Group

In other news, SVP Alexandre Clerc sold 15,152 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $6.63, for a total value of $100,457.76. Following the completion of the sale, the senior vice president now owns 23,912 shares in the company, valued at $158,536.56. This represents a 38.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Howard Diamond sold 87,830 shares of Frontier Group 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 $1,542,520.22. This represents a 33.30% decrease in their position. The disclosure for this sale can be found here. 48.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Evercore ISI reduced 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. Citigroup decreased their price target on Frontier Group from $7.25 to $4.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Barclays cut their price objective 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. Deutsche Bank Aktiengesellschaft cut shares of Frontier Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $12.00 to $8.00 in a research note on Tuesday, March 4th. Finally, UBS Group reduced their price target 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Frontier Group has a consensus rating of “Hold” and an average price target of $6.11.

Frontier Group Stock Performance

ULCC opened at $3.88 on Monday. The business has a fifty day simple moving average of $4.32 and a 200-day simple moving average of $6.22. The firm has a market cap of $883.73 million, a PE ratio of 10.78 and a beta of 2.55. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.45. 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, topping analysts’ consensus estimates of ($0.22) by $0.03. The firm had revenue of $912.00 million for the quarter, compared to analysts’ expectations 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 quarter last year, the business posted ($0.09) EPS. As a group, equities analysts predict that Frontier Group Holdings, Inc. will post 0.91 EPS 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.