T. Rowe Price Associates, Inc. recently announced the acquisition of new stake in Frontier Group Holdings Inc. (NASDAQ:ULCC). The institutional investor has increased its shareholding in the Industrials company by 1.53% to 3.37 million shares with purchase of 50921.0 shares. This fresh investment now brings its stake to 1.55% valued currently at $32.02 million. In addition, PAR Capital Management, Inc. raised its holdings by 1.15 million to 3.33 million shares. And The Vanguard Group, Inc. has lifted its position by 1.34% or 40666.0 shares – to 3.07 million shares.
With over 1.36 million Frontier Group Holdings Inc. (ULCC) shares trading Monday and a closing price of $7.92 on the day, the dollar volume was approximately $10.8 million. The shares have shown a negative half year performance of -40.45% and its price on 05/22/23 gained nearly 0.51%. Currently, there are 218.18M common shares owned by the public and among those 215.14M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 12 analysts who have offered their price forecasts for ULCC have a consensus price objective of $14.95. The analysts have set the share’s price value over the next 12 months at a high of $20.00 and a low of $10.00. The average price target is 49.97% above its recent price level and an upside to the estimated low will see the stock gain 20.8% over that period. But an upside of 60.4% will see the stock hit the forecast high price target while median target price for the stock is $15.00.
Insiders at the company have transacted a total of 71 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 36 of these insider trades were purchases, accounting for 937,102 shares. Insider sales of the common stock occurred on 35 occasions, with total insider shares sold totaling 704,290 shares.
The top 3 mutual fund holders in Frontier Group Holdings Inc. are Stichting Pensioenfonds ABP, T Rowe Price Real Assets Fund, and Vanguard Total Stock Market ETF. Stichting Pensioenfonds ABP owns 1.84 million shares of the company’s stock, all valued at over $17.5 million. The company sold 64685.0 shares recently to bring their total holdings to about 0.85% of the shares outstanding. Vanguard Total Stock Market ETF now owns shares totaling to 0.45% of the shares outstanding.
Shares of Frontier Group Holdings Inc. (NASDAQ: ULCC) opened at $7.91, up $0.03 from a prior closing price of $7.88. However, the script later moved the day high at 7.98, up 0.51%. The company’s stock has a 5-day price change of -1.37% and -27.47% over the past three months. ULCC shares are trading -22.88% year to date (YTD), with the 12-month market performance down to -16.46% lower. It has a 12-month low price of $7.61 and touched a high of $15.25 over the same period. ULCC has an average intraday trading volume of 1.33 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.83%, -12.71%, and -29.54% respectively.
Institutional ownership of Frontier Group Holdings Inc. (NASDAQ: ULCC) shares accounts for 99.48% of the company’s 218.18M shares outstanding. Mutual fund holders own 8.88%, while other institutional holders and individual stakeholders account for 83.07% and 6.37% respectively.
It has a market capitalization of $1.77B. The stock’s trailing 12-month PE ratio is 24.44, while the earnings-per-share (ttm) stands at $0.32. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.88% over the week and 4.76% over the month.
Analysts forecast that Frontier Group Holdings Inc. (ULCC) will achieve an EPS of $0.28 for the current quarter, $0.36 for the next quarter and $1.53 for 2024. The lowest estimate earnings-per-share for the quarter is $0.2 while analysts give the company a high EPS estimate of $0.32. Comparatively, EPS for the current quarter was $0.09 a year ago. Earnings per share for the fiscal year are expected to increase by 64.80%, and 61.54% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate Frontier Group Holdings Inc. (ULCC) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 4 of the 12 advise that investors “hold,” and 0 rated it as a “Sell.”
