JPMorgan Chase & Co. Has $25.83 Million Stock Position in Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Posted by on Jun 12th, 2023

JPMorgan Chase & Co. boosted its holdings in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC – Get Rating) by 2.1% in the fourth quarter, HoldingsChannel reports. The firm owned 2,515,082 shares of the company’s stock after acquiring an additional 51,946 shares during the period. JPMorgan Chase & Co.’s holdings in Frontier Group were worth $25,829,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ULCC. Advisor Group Holdings Inc. lifted its position in shares of Frontier Group by 1,838.1% during the 1st quarter. Advisor Group Holdings Inc. now owns 10,214 shares of the company’s stock worth $115,000 after buying an additional 9,687 shares during the last quarter. Swiss National Bank boosted its stake in shares of Frontier Group by 7.7% during the first quarter. Swiss National Bank now owns 102,100 shares of the company’s stock valued at $1,157,000 after purchasing an additional 7,300 shares during the period. MetLife Investment Management LLC raised its holdings in Frontier Group by 58.5% in the first quarter. MetLife Investment Management LLC now owns 23,388 shares of the company’s stock worth $265,000 after purchasing an additional 8,632 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Frontier Group by 21.0% during the first quarter. Rhumbline Advisers now owns 35,611 shares of the company’s stock valued at $403,000 after buying an additional 6,192 shares during the last quarter. Finally, BlackRock Inc. raised its stake in Frontier Group by 5.3% during the 1st quarter. BlackRock Inc. now owns 2,367,731 shares of the company’s stock valued at $26,828,000 after purchasing an additional 120,090 shares during the period.

Wall Street Analyst Weigh In

Several analysts have weighed in on ULCC shares. Melius downgraded Frontier Group from an “overweight” rating to a “neutral” rating and set a $13.00 price target on the stock. in a research note on Wednesday, February 15th. Susquehanna cut Frontier Group from a “positive” rating to a “neutral” rating and lowered their price target for the stock from $12.00 to $10.00 in a report on Thursday, May 4th. 500.com reaffirmed a “downgrade” rating on shares of Frontier Group in a research report on Monday, May 8th. Raymond James raised shares of Frontier Group from a “market perform” rating to an “outperform” rating and set a $15.00 target price on the stock in a report on Monday, February 27th. Finally, JPMorgan Chase & Co. downgraded shares of Frontier Group from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $18.00 to $12.00 in a research report on Monday, May 8th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.42.

Insider Activity at Frontier Group

In other news, VP Jacob F. Filene sold 34,842 shares of the stock in a transaction dated Wednesday, April 12th. The shares were sold at an average price of $9.49, for a total value of $330,650.58. Following the completion of the transaction, the vice president now owns 27,778 shares in the company, valued at approximately $263,613.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Barry Biffle sold 23,800 shares of Frontier Group stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $7.81, for a total transaction of $185,878.00. Following the sale, the chief executive officer now directly owns 601,684 shares in the company, valued at $4,699,152.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jacob F. Filene sold 34,842 shares of Frontier Group stock in a transaction dated Wednesday, April 12th. The stock was sold at an average price of $9.49, for a total value of $330,650.58. Following the completion of the transaction, the vice president now directly owns 27,778 shares in the company, valued at approximately $263,613.22. The disclosure for this sale can be found here. Insiders sold a total of 699,212 shares of company stock worth $5,844,199 in the last 90 days. 83.20% of the stock is owned by insiders.

Frontier Group Price Performance

Shares of NASDAQ ULCC opened at $9.36 on Monday. Frontier Group Holdings, Inc. has a 52 week low of $7.61 and a 52 week high of $15.25. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 30.19 and a beta of 1.98. The firm has a 50-day simple moving average of $8.82 and a 200-day simple moving average of $10.47. The company has a quick ratio of 0.59, a current ratio of 0.62 and a debt-to-equity ratio of 0.50.

About Frontier Group

(Get Rating)

Frontier Group Holdings, Inc engages in the provision of air transportation. The company was founded on September 2013 and is headquartered in Denver, CO.

See Also

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Institutional Ownership by Quarter for Frontier Group (NASDAQ:ULCC)

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