Frontier Group Holdings, Inc. (NASDAQ:ULCC) CEO Sells $1,340,800.00 in Stock

Frontier Group Holdings, Inc. (NASDAQ:ULCC) CEO Barry Biffle sold 160,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $8.38, for a total value of $1,340,800.00. Following the completion of the transaction, the chief executive officer now directly owns 864,817 shares in the company, valued at approximately $7,247,166.46. This trade represents a 15.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Friday, January 17th, Barry Biffle sold 273,000 shares of Frontier Group stock. The shares were sold at an average price of $8.44, for a total transaction of $2,304,120.00.
• 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 Price Performance

Frontier Group stock opened at $8.58 on Monday. Frontier Group Holdings, Inc. has a 52 week low of $2.79 and a 52 week high of $8.74. The company’s 50 day moving average price is $6.74 and its two-hundred day moving average price is $5.35. The stock has a market cap of $1.93 billion, a P/E ratio of -214.45 and a beta of 2.32. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57.

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

Hedge Funds Weigh In On Frontier Group

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. UBS Group upped their price target on Frontier Group from $6.00 to $8.50 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded Frontier Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $6.00 to $8.00 in a report on Wednesday, December 11th. Barclays boosted their price target on shares of Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Citigroup lifted their price objective on shares of Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Evercore ISI upped their target price on shares of Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.