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 firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 864,817 shares in the company, valued at approximately $7,247,166.46. The trade was a 15.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 stock was 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 shares were 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 stock was sold at an average price of $6.88, for a total transaction of $1,100,800.00.

Frontier Group Trading Up 3.9 %

NASDAQ:ULCC opened at $8.58 on Monday. The firm has a market capitalization of $1.93 billion, a P/E ratio of -214.45 and a beta of 2.32. Frontier Group Holdings, Inc. has a 52 week low of $2.79 and a 52 week high of $8.74. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average of $6.74 and a 200 day moving average of $5.35.

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

Analysts Set New Price Targets

A number of research analysts recently commented on ULCC shares. Evercore ISI increased their target price on Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. Morgan Stanley cut their price objective on Frontier Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Barclays raised their price objective on Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Frontier Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $6.00 to $8.00 in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.96.

Hedge Funds Weigh In On Frontier Group

Several hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its holdings in Frontier Group by 1,230.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock valued at $57,000 after acquiring an additional 7,380 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Frontier Group during the 3rd quarter valued at about $54,000. Ballentine Partners LLC purchased a new position in shares of Frontier Group during the third quarter valued at about $55,000. Vanguard Personalized Indexing Management LLC bought a new position in Frontier Group in the second quarter worth about $58,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Frontier Group by 251.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock worth $64,000 after buying an additional 8,507 shares during the period.

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.