Barry Biffle Sells 273,000 Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) Stock

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

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

• On Wednesday, January 15th, Barry Biffle sold 160,000 shares of Frontier Group stock. The stock was sold at an average price of $8.38, for a total transaction 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 Trading Up 3.9 %

Shares of Frontier Group stock opened at $8.58 on Friday. Frontier Group Holdings, Inc. has a 12-month low of $2.79 and a 12-month high of $8.74. The company has a market cap of $1.93 billion, a price-to-earnings ratio of -214.45 and a beta of 2.32. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.57. The company’s 50-day moving average price is $6.74 and its 200-day moving average price is $5.35.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share (EPS) 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 analysts’ expectations of $943.30 million. During the same quarter last year, the firm posted ($0.14) earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. On average, equities analysts expect that Frontier Group Holdings, Inc. will post 0.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Frontier Group

A number of institutional investors and hedge funds have recently modified their holdings of ULCC. Bank of New York Mellon Corp lifted its holdings in shares of Frontier Group by 24.3% in the second quarter. Bank of New York Mellon Corp now owns 130,509 shares of the company’s stock worth $643,000 after buying an additional 25,523 shares in the last quarter. Rhumbline Advisers lifted its position in Frontier Group by 2.3% during the second quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock valued at $789,000 after purchasing an additional 3,543 shares during the last quarter. Arizona State Retirement System lifted its position in Frontier Group by 29.0% during the second quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock valued at $77,000 after purchasing an additional 3,521 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Frontier Group by 7.6% during the second quarter. Dimensional Fund Advisors LP now owns 309,282 shares of the company’s stock valued at $1,524,000 after purchasing an additional 21,829 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in Frontier Group during the second quarter valued at approximately $58,000.

Analysts Set New Price Targets

ULCC has been the subject of several research reports. UBS Group increased their price target on shares of Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Frontier Group from a “hold” rating to a “buy” rating and increased their price target for the company from $6.00 to $8.00 in a research report on Wednesday, December 11th. Evercore ISI increased their price target on shares of Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. Morgan Stanley reduced their price target on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Finally, Citigroup upped 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.96.

Frontier Group Company Profile

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.