Insider Selling: 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 company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $6.88, for a total transaction of $1,100,800.00. Following the transaction, the chief executive officer now owns 784,817 shares in the company, valued at approximately $5,399,540.96. This trade represents a 16.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Frontier Group Trading Down 1.6 %

NASDAQ:ULCC opened at $7.17 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. Frontier Group Holdings, Inc. has a 1-year low of $2.79 and a 1-year high of $8.33. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -179.21 and a beta of 2.43. The business’s 50-day moving average price is $6.33 and its two-hundred day moving average price is $5.06.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The company had revenue of $935.00 million for the quarter, compared to analyst estimates of $943.30 million. Frontier Group’s revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.14) earnings per share. On average, equities analysts expect that Frontier Group Holdings, Inc. will post 0.05 earnings per share for the current year.

Hedge Funds Weigh In On Frontier Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. U S Global Investors Inc. raised its stake in 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 worth $40,473,000 after buying an additional 3,150,768 shares during the period. AlTi Global Inc. acquired a new stake in shares of Frontier Group during the second quarter worth about $21,222,000. Geode Capital Management LLC raised its position in shares of Frontier Group by 38.4% during the third quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock worth $8,512,000 after purchasing an additional 441,001 shares during the period. Verition Fund Management LLC grew its position in shares of Frontier Group by 235.7% in the 3rd quarter. Verition Fund Management LLC now owns 646,243 shares of the company’s stock valued at $3,457,000 after purchasing an additional 453,736 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Frontier Group by 81.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock worth $3,205,000 after purchasing an additional 269,221 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ULCC shares. Barclays upped their target price on shares of Frontier Group from $7.00 to $10.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised Frontier Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $6.00 to $8.00 in a report on Wednesday, December 11th. Morgan Stanley lowered their target price on Frontier Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. Susquehanna raised 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. Finally, Citigroup lifted their price objective on Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Frontier Group presently has an average rating of “Hold” and a consensus target price of $6.46.

Frontier Group Company Profile

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.