Frontier Group Holdings, Inc. (NASDAQ:ULCC) CEO Barry Biffle Sells 160,000 Shares of Stock

Frontier Group Holdings, Inc. (NASDAQ:ULCC) CEO Barry Biffle sold 160,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $6.88, for a total transaction of $1,100,800.00. Following the completion of the sale, the chief executive officer now directly owns 784,817 shares of the company’s stock, valued at approximately $5,399,540.96. This trade represents a 16.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Frontier Group Stock Performance

Shares of ULCC stock opened at $7.29 on Friday. The stock has a fifty day moving average price of $6.32 and a 200 day moving average price of $5.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.48 and a current ratio of 0.53. The stock has a market cap of $1.64 billion, a PE ratio of -182.20 and a beta of 2.43. Frontier Group Holdings, Inc. has a 1 year low of $2.79 and a 1 year high of $8.33.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The firm had revenue of $935.00 million for the quarter, compared to analyst estimates of $943.30 million. Frontier Group’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the business posted ($0.14) earnings per share. Sell-side analysts forecast that Frontier Group Holdings, Inc. will post 0.05 earnings per share for the current fiscal year.

Institutional Trading of Frontier Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ULCC. nVerses Capital LLC boosted its stake in shares of Frontier Group by 152.5% during the 2nd quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock worth $50,000 after purchasing an additional 6,100 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in Frontier Group during the third quarter worth approximately $54,000. Ballentine Partners LLC acquired a new stake in Frontier Group during the third quarter worth approximately $55,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Frontier Group in the 2nd quarter worth approximately $58,000. Finally, Blue Trust Inc. raised its holdings in Frontier Group by 41.2% in the 3rd quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock valued at $63,000 after acquiring an additional 3,744 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ULCC shares. 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. Raymond James upgraded Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. TD Cowen lifted their price objective on Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Monday, September 16th. Bank of America decreased their target price on Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Finally, Citigroup lifted their target price on Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.46.

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.