Frontier Group (NASDAQ:ULCC) EVP Howard Diamond Sells 35,401 Shares of Stock

Frontier Group Holdings, Inc. (NASDAQ:ULCC) EVP Howard Diamond sold 35,401 shares of the stock in a transaction on Monday, November 9th. The shares were sold at an average price of $8.40, for a total value of $297,368.40. Following the completion of the transaction, the executive vice president owned 133,126 shares in the company, valued at $1,118,258.40. The trade was a 21.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Frontier Group Trading Down 4.7%

Shares of ULCC opened at $7.70 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 10.68. Frontier Group Holdings, Inc. has a 12-month low of $3.02 and a 12-month high of $8.53. The firm has a market capitalization of $1.77 billion, a PE ratio of -4.30 and a beta of 2.71. The stock’s fifty day simple moving average is $6.03 and its 200-day simple moving average is $5.54.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.24. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.29 billion. Frontier Group had a positive return on equity of 1.35% and a negative net margin of 8.93%. The company’s revenue was up 52.9% on a year-over-year basis. During the same period last year, the company earned ($0.34) earnings per share. As a group, research analysts predict that Frontier Group Holdings, Inc. will post -0.27 earnings per share for the current year.

Institutional Investors Weigh In On Frontier Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Frontier Group in the 2nd quarter valued at approximately $47,205,000. U S Global Investors Inc. increased its stake in shares of Frontier Group by 6.1% during the 3rd quarter. U S Global Investors Inc. now owns 5,216,198 shares of the company’s stock worth $31,141,000 after purchasing an additional 301,543 shares during the last quarter. Silver Point Capital L.P. acquired a new position in Frontier Group during the second quarter worth approximately $12,141,850. Bank of America Corp DE bought a new stake in Frontier Group in the second quarter valued at approximately $7,337,000. Finally, GSA Capital Partners LLP bought a new stake in Frontier Group in the second quarter valued at approximately $4,373,000.

Analysts Set New Price Targets

ULCC has been the topic of several recent research reports. Deutsche Bank raised shares of Frontier Group from a “hold” rating to a “buy” rating and raised their target price for the company from $7.00 to $10.00 in a research note on Thursday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Frontier Group in a research note on Wednesday, October 28th. Zacks Research lowered shares of Frontier Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. UBS Group increased their price objective on shares of Frontier Group from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Friday, October 30th. Finally, Barclays reduced their price objective on shares of Frontier Group from $7.00 to $5.00 and set an “underweight” rating on the stock in a research note on Friday, September 11th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Frontier Group presently has a consensus rating of “Reduce” and a consensus price target of $7.07.

About Frontier Group

Frontier Group Holdings, Inc. is the parent company of Frontier Airlines, an ultra-low-cost passenger airline based in Denver, Colorado. The airline focuses on offering low base fares, with services such as checked baggage, seat selection and other travel options available for additional fees. Frontier Airlines began operating in 1994 and has expanded its route network over time. It serves destinations across the United States, Mexico, the Caribbean and Central America, connecting travelers through scheduled domestic and international flights.