Frontier Group Holdings, Inc. (NASDAQ:ULCC) CEO Sells $1,100,800.00 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 Monday, December 23rd. The stock was sold at an average price of $6.88, for a total value of $1,100,800.00. Following the sale, the chief executive officer now owns 784,817 shares of the company’s stock, valued at $5,399,540.96. The trade was a 16.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Frontier Group Stock Performance

Shares of Frontier Group stock opened at $7.17 on Friday. Frontier Group Holdings, Inc. has a 52 week low of $2.79 and a 52 week high of $8.33. The business’s fifty day simple moving average is $6.33 and its 200-day simple moving average is $5.06. The firm has a market cap of $1.62 billion, a PE ratio of -179.21 and a beta of 2.43. 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 announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The firm had revenue of $935.00 million during the quarter, compared to analyst estimates of $943.30 million. During the same quarter in the previous year, the business posted ($0.14) earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. Equities analysts forecast that Frontier Group Holdings, Inc. will post 0.05 earnings per share for the current year.

Hedge Funds Weigh In On Frontier Group

Several large investors have recently modified their holdings of the business. Arizona State Retirement System lifted its stake in shares of Frontier Group by 29.0% in the 2nd 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. Rhumbline Advisers lifted its stake in Frontier Group by 2.3% during the 2nd quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock worth $789,000 after acquiring an additional 3,543 shares in the last quarter. Blue Trust Inc. lifted its stake in Frontier Group by 41.2% during the 3rd quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock worth $63,000 after acquiring an additional 3,744 shares in the last quarter. XTX Topco Ltd lifted its stake in Frontier Group by 10.6% during the 2nd quarter. XTX Topco Ltd now owns 41,103 shares of the company’s stock worth $203,000 after acquiring an additional 3,936 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Frontier Group by 27.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,970 shares of the company’s stock worth $98,000 after acquiring an additional 4,279 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently commented on ULCC. UBS Group began coverage on Frontier Group in a research report on Tuesday, November 26th. They set a “neutral” rating and a $6.00 price target for the company. Susquehanna boosted their price target on Frontier Group from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Evercore ISI upped their target price on Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft upgraded Frontier Group from a “hold” rating to a “buy” rating and upped their target price for the company from $6.00 to $8.00 in a report on Wednesday, December 11th. Finally, Barclays upped their target price on Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.