5 Cheap Travel Stocks to Buy Now

2. Frontier Group Holdings Inc (NASDAQ:ULCC)

Upside Potential: 49.35%
Price target: $14.83
Number of Hedge Fund Holders:20

Frontier Group Holdings Inc. (NASDAQ:ULCC) is one of the airlines that has benefited from more Americans hitting the skies to travel from one destination to another. The low-fare airline company provides air transportation for passengers in the U.S. and in the Americas. The airline delivered a loss of $0.06 a share in Q1, better than analysts’ expected loss of $0.08 a share. In addition, revenue was up 40% year over year to $848 million.

While the stock has barely moved for the year, analysts are optimistic about its long-term prospects, with an average price target of $14.83, implying 49.35% upside potential.

Insider Monkey’s database shows that 20 hedge funds tracked by Insider Monkey had stakes in Frontier Group Holdings Inc (NASDAQ:ULCC) as of the end of the first quarter of 2023. The total worth of these hedge funds’ stakes was $144.94 million. The biggest stakeholder of Frontier Group Holdings Inc (NASDAQ:ULCC) was Ancient Art (Teton Capital) which had a $42.89 million stake in the company.