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 the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 784,817 shares of the company’s stock, valued at $5,399,540.96. The trade was a 16.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Frontier Group Trading Up 2.1 %

Shares of NASDAQ:ULCC traded up $0.15 during trading on Thursday, reaching $7.29. 1,618,153 shares of the stock were exchanged, compared to its average volume of 2,172,262. Frontier Group Holdings, Inc. has a 12-month low of $2.79 and a 12-month high of $8.33. The firm’s 50-day moving average price is $6.30 and its 200 day moving average price is $5.03. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.48 and a current ratio of 0.53. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -182.20 and a beta of 2.43.

Frontier Group (NASDAQ:ULCC) last issued its earnings results 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 for the quarter, compared to analyst estimates of $943.30 million. During the same quarter in the previous year, the company posted ($0.14) earnings per share. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, sell-side analysts anticipate that Frontier Group Holdings, Inc. will post 0.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on ULCC. Bank of America decreased their price objective on Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. 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 cut their price target on Frontier Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Susquehanna raised their price objective on Frontier Group from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, Evercore ISI increased their target price on Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Frontier Group has a consensus rating of “Hold” and an average target price of $6.46.

Institutional Investors Weigh In On Frontier Group

Several institutional investors and hedge funds have recently modified their holdings of ULCC. nVerses Capital LLC raised its holdings in shares of Frontier Group by 152.5% during the 2nd quarter. nVerses Capital LLC now owns 10,100 shares of the company’s stock valued at $50,000 after buying an additional 6,100 shares during the period. Victory Capital Management Inc. acquired a new stake in Frontier Group in the third quarter valued at approximately $54,000. Ballentine Partners LLC purchased a new stake in shares of Frontier Group during the third quarter valued at approximately $55,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Frontier Group during the second quarter worth $58,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Frontier Group by 251.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock valued at $64,000 after purchasing an additional 8,507 shares during the period.

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.