Barry Biffle Sells 160,000 Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) Stock

Frontier Group Holdings, Inc. (NASDAQ:ULCC) CEO Barry Biffle sold 160,000 shares of Frontier Group stock in a transaction dated 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 directly owns 784,817 shares of the company’s stock, valued at $5,399,540.96. This trade represents a 16.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Frontier Group Trading Down 1.6 %

Shares of NASDAQ:ULCC opened at $7.17 on Friday. Frontier Group Holdings, Inc. has a 12-month low of $2.79 and a 12-month high of $8.33. The company has a market capitalization of $1.62 billion, a PE ratio of -179.21 and a beta of 2.43. The business has a 50 day moving average of $6.33 and a two-hundred day moving average of $5.06. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.57.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates 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. Frontier Group’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.14) EPS. As a group, analysts forecast that Frontier Group Holdings, Inc. will post 0.05 EPS for the current year.

Analyst Upgrades and Downgrades

ULCC has been the subject of a number of research reports. Barclays lifted their target price on Frontier Group from $7.00 to $10.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Evercore ISI lifted their target price on Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Bank of America decreased their target price on Frontier Group from $5.50 to $5.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Raymond James raised Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. Finally, Susquehanna boosted their price target on Frontier Group from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Frontier Group currently has a consensus rating of “Hold” and an average price target of $6.46.

Institutional Trading of Frontier Group

A number of institutional investors and hedge funds have recently made changes to their positions in ULCC. AlTi Global Inc. purchased a new stake in shares of Frontier Group in the second quarter valued at approximately $21,222,000. U S Global Investors Inc. increased its position in shares of Frontier Group by 71.4% in the third 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. Verition Fund Management LLC increased its position in shares of Frontier Group by 235.7% in the third quarter. Verition Fund Management LLC now owns 646,243 shares of the company’s stock valued at $3,457,000 after buying an additional 453,736 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Frontier Group by 38.4% in the third 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. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Frontier Group by 81.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock valued at $3,205,000 after buying an additional 269,221 shares in the last quarter.

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.