Frontier Group Holdings, Inc. (NASDAQ:ULCC) CEO Sells $2,304,120.00 in Stock

Frontier Group Holdings, Inc. (NASDAQ:ULCC) CEO Barry Biffle sold 273,000 shares of Frontier Group stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 816,817 shares in the company, valued at $6,893,935.48. This trade represents a 25.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 stock was sold at an average price of $6.88, for a total transaction of $1,100,800.00.

Frontier Group Stock Up 3.9 %

Shares of Frontier Group stock opened at $8.58 on Friday. 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 fifty day simple moving average is $6.74 and its two-hundred day simple moving average is $5.35. The company has a market cap of $1.93 billion, a P/E ratio of -214.45 and a beta of 2.32. Frontier Group Holdings, Inc. has a 12-month low of $2.79 and a 12-month high of $8.74.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings data 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 business had revenue of $935.00 million for the quarter, compared to analyst estimates of $943.30 million. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. Research analysts anticipate that Frontier Group Holdings, Inc. will post 0.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup lifted their price target on shares of Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft raised shares of Frontier Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $6.00 to $8.00 in a research note on Wednesday, December 11th. Raymond James raised shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. Morgan Stanley decreased their target price on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Finally, Barclays lifted their target price on shares of Frontier Group from $7.00 to $10.00 and gave the stock an “overweight” rating in a research note 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, Frontier Group has an average rating of “Hold” and an average price target of $6.96.

Institutional Trading of Frontier Group

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in shares of Frontier Group by 38.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after buying an additional 441,001 shares in the last quarter. Algert Global LLC boosted its holdings in shares of Frontier Group by 80.2% during the 3rd quarter. Algert Global LLC now owns 451,508 shares of the company’s stock valued at $2,416,000 after buying an additional 200,885 shares in the last quarter. Creative Planning boosted its holdings in shares of Frontier Group by 81.0% during the 3rd quarter. Creative Planning now owns 234,026 shares of the company’s stock valued at $1,252,000 after buying an additional 104,707 shares in the last quarter. U S Global Investors Inc. boosted its holdings in shares of Frontier Group by 71.4% during the 3rd quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock valued at $40,473,000 after buying an additional 3,150,768 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in Frontier Group in the 3rd quarter worth about $54,000.

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.