Ancient Art LP has recently announced that it has increased stake in Frontier Group Holdings Inc (NASDAQ:ULCC) by 52.31%. After grabbing 7.96 million shares, the institutional investor is now in possession of 2.73 million shares of the Industrials Company. The new investment brought the stake of investor firm to 3.60% having worth around $31.13 million. Moreover, US Global Investors, Inc. increased its share by 1.6 million to have a control over 7.18 million shares. And The Vanguard Group, Inc. raised its holdings to 0.63 million shares by acquiring 3.71 million shares or 1.68% of the stake.
Frontier Group Holdings Inc (ULCC) concluded trading on 12/28/23 at a closing price of $5.62, with 2.48 million shares of worth about $13.94 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -40.15% during that period and on Thursday the price saw a gain of about 2.18%. Currently the company’s common shares owned by public are about 217.88M shares, out of which, 38.93M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 106 times over the past 12 months. They bought 3,452,979 shares in 55 of the transactions. In 51 selling transactions, insiders dumped 2,561,906 shares.
US Global Jets ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Frontier Group Holdings Inc US Global Jets ETF is currently holding 8.73 million shares of worth totaling $34.12 million. The company recently came buying 0.26 million shares which brought its stake up to 3.95% of the company’s outstanding shares. Vanguard Small Cap Index Fund, after buying 1.14 million shares, have now control over 0.52% of the stake in the company. It holds 3496.0 shares of worth $4.45 million.
Frontier Group Holdings Inc (NASDAQ: ULCC) started trading at $5.43, below -$0.07 from concluding price of the previous day. However, the stock later moved at a day high price of 5.86, or with a gain of 2.18%. Stock saw a price change of 9.77% in past 5 days and over the past one month there was a price change of 42.64%. Year-to-date (YTD), ULCC shares are showing a performance of -45.28% which decreased to -45.01% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $3.19 but also hit the highest price of $14.10 during that period. The average intraday trading volume for Frontier Group Holdings Inc shares is 2.50 million. The stock is currently trading 15.84% above its 20-day simple moving average (SMA20), while that difference is up 31.71% for SMA50 and it goes to -20.96% lower than SMA200.
Ancient Art LP acquired 7.96 million shares of Frontier Group Holdings Inc having value of about $31.13 million. Data submitted at the U.S SEC by Ancient Art LP revealed that the firm now holds 2.73 million shares in the company valued at close to $15365664.48, or have control over 52.31% stake in the company. Frontier Group Holdings Inc (NASDAQ: ULCC) currently have 217.88M outstanding shares and institutions hold larger chunk of about 20.10% of that. Holding of mutual funds in the company is about 8.63% while other institutional holders and individual stake holders have control over 82.39% and 11.50% of the stake respectively.
The stock has a current market capitalization of $1.24B and its 3Y-monthly beta is at 2.40. PE ratio of stock for trailing 12 months is 19.35, while it has posted earnings per share of $0.29 in the same period. It has Quick Ratio of 0.51 while making debt-to-equity ratio of 6.17. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ULCC, volatility over the week remained 4.80% while standing at 6.25% over the month.
Analysts are in expectations that Frontier Group Holdings Inc (ULCC) stock would likely to be making an EPS of -$0.23 in the current quarter, while forecast for next quarter EPS is -$0.28 and it is $0.07 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.3 which is -$0.18 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.18 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -52.16% while it is estimated to increase by 277.18% in next year.
Analysts at 12 brokerage firms have issued recommendations for the Frontier Group Holdings Inc (ULCC)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.50. Out of those 12 Wall Street analysts, 2 recommended a “Buy” rating, while 8 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Deutsche Bank on October 27, 2023 offering a Hold rating for the stock and assigned a target price range of between $7.50 and $5 to it.
