Howard Diamond Sells 87,830 Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) Stock

Frontier Group Holdings, Inc. (NASDAQ:ULCC) EVP Howard Diamond sold 87,830 shares of Frontier Group stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $8.77, for a total value of $770,269.10. Following the completion of the sale, the executive vice president now owns 175,886 shares in the company, valued at approximately $1,542,520.22. This trade represents a 33.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Frontier Group Trading Up 0.4 %

Shares of ULCC opened at $7.53 on Thursday. Frontier Group Holdings, Inc. has a 1-year low of $2.79 and a 1-year high of $10.26. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.48. The firm has a 50 day simple moving average of $8.10 and a 200-day simple moving average of $6.25. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 20.92 and a beta of 2.34.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings results on Friday, February 7th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.20. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. Equities analysts forecast that Frontier Group Holdings, Inc. will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Voloridge Investment Management LLC grew its holdings in shares of Frontier Group by 835.6% during the fourth quarter. Voloridge Investment Management LLC now owns 1,702,008 shares of the company’s stock worth $12,101,000 after buying an additional 1,520,094 shares in the last quarter. Highland Peak Capital LLC acquired a new stake in Frontier Group during the fourth quarter worth approximately $6,492,000. Two Sigma Investments LP grew its stake in Frontier Group by 488.9% in the 4th quarter. Two Sigma Investments LP now owns 980,426 shares of the company’s stock worth $6,971,000 after acquiring an additional 813,929 shares during the period. Empyrean Capital Partners LP acquired a new position in Frontier Group in the 4th quarter valued at $4,977,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Frontier Group by 247.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 926,093 shares of the company’s stock worth $6,585,000 after purchasing an additional 659,811 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Susquehanna boosted their target price on shares of Frontier Group from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised shares of Frontier Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $6.00 to $8.00 in a report on Wednesday, December 11th. Morgan Stanley increased their target price on shares of Frontier Group from $7.00 to $10.00 and gave the company an “equal weight” rating in a report on Monday. Barclays lifted their price target on shares of Frontier Group from $10.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, UBS Group upped their price target on Frontier Group from $6.00 to $8.50 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $7.74.

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.