Frontier Group Holdings, Inc. (NASDAQ:ULCC) CEO Sells $2,304,120.00 in Stock

Frontier Group Holdings, Inc. (NASDAQ:ULCC) CEO Barry Biffle sold 273,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $8.44, for a total value of $2,304,120.00. Following the completion of the transaction, the chief executive officer now owns 816,817 shares in the company, valued at $6,893,935.48. This represents a 25.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Barry Biffle also recently made the following trade(s):

• On Wednesday, January 15th, Barry Biffle sold 160,000 shares of Frontier Group stock. The shares were sold at an average price of $8.38, for a total value of $1,340,800.00.
• On Monday, January 6th, Barry Biffle sold 160,000 shares of Frontier Group stock. The stock was sold at an average price of $7.88, for a total transaction of $1,260,800.00.
• On Monday, December 23rd, Barry Biffle sold 160,000 shares of Frontier Group stock. The shares were sold at an average price of $6.88, for a total transaction of $1,100,800.00.

Frontier Group Stock Performance

Shares of ULCC traded up $0.32 during trading hours on Friday, hitting $8.58. The company’s stock had a trading volume of 2,842,829 shares, compared to its average volume of 2,550,932. The business has a 50 day simple moving average of $6.70 and a two-hundred day simple moving average of $5.32. Frontier Group Holdings, Inc. has a 52-week low of $2.79 and a 52-week high of $8.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48. The company has a market cap of $1.93 billion, a price-to-earnings ratio of -214.45 and a beta of 2.32.

Frontier Group (NASDAQ:ULCC) last issued its earnings results on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The business had revenue of $935.00 million during the quarter, compared to analyst estimates of $943.30 million. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.14) EPS. On average, equities analysts expect that Frontier Group Holdings, Inc. will post 0.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ULCC. AlTi Global Inc. bought a new stake in shares of Frontier Group during the 2nd quarter valued at about $21,222,000. U S Global Investors Inc. lifted its position in Frontier Group by 71.4% during the third quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock valued at $40,473,000 after purchasing an additional 3,150,768 shares during the last quarter. Verition Fund Management LLC grew its stake in Frontier Group by 235.7% in the 3rd quarter. Verition Fund Management LLC now owns 646,243 shares of the company’s stock worth $3,457,000 after buying an additional 453,736 shares in the last quarter. Geode Capital Management LLC increased its stake in Frontier Group by 38.4% in the third quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after acquiring an additional 441,001 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Frontier Group by 81.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock valued at $3,205,000 after purchasing an additional 269,221 shares during the last quarter.

Analysts Set New Price Targets

ULCC has been the subject of several analyst reports. Evercore ISI increased their price objective on shares of Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. Barclays lifted their price target on Frontier Group from $7.00 to $10.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Susquehanna upped their price objective on Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Morgan Stanley cut their price target on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Finally, Raymond James upgraded shares of Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.96.

About Frontier Group

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.