Insider Selling: Frontier Group Holdings, Inc. (NASDAQ:ULCC) CEO Sells 160,000 Shares of Stock

Frontier Group Holdings, Inc. (NASDAQ:ULCC) CEO Barry Biffle sold 160,000 shares of the 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 transaction, the chief executive officer now owns 784,817 shares of the company’s stock, valued at approximately $5,399,540.96. This trade represents a 16.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Frontier Group Stock Performance

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

Frontier Group (NASDAQ:ULCC) last issued its earnings results 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 firm had revenue of $935.00 million for the quarter, compared to the consensus estimate of $943.30 million. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.14) earnings per share. As a group, research analysts anticipate that Frontier Group Holdings, Inc. will post 0.05 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ULCC. SkyView Investment Advisors LLC raised its stake in Frontier Group by 9.7% in the 3rd quarter. SkyView Investment Advisors LLC now owns 357,003 shares of the company’s stock valued at $1,910,000 after acquiring an additional 31,559 shares during the period. Virtu Financial LLC bought a new stake in shares of Frontier Group during the 3rd quarter worth about $145,000. Barclays PLC grew its stake in Frontier Group by 378.6% in the 3rd quarter. Barclays PLC now owns 72,866 shares of the company’s stock valued at $389,000 after buying an additional 57,642 shares during the last quarter. Geode Capital Management LLC raised its holdings in Frontier Group by 38.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock valued at $8,512,000 after acquiring an additional 441,001 shares during the period. Finally, MCIA Inc lifted its position in Frontier Group by 11.2% during the third quarter. MCIA Inc now owns 163,992 shares of the company’s stock worth $877,000 after acquiring an additional 16,577 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ULCC shares. Susquehanna upped their price objective on Frontier Group from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Evercore ISI upped their price target 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. Morgan Stanley lowered their price objective on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. UBS Group started coverage on shares of Frontier Group in a report on Tuesday, November 26th. They set a “neutral” rating and a $6.00 target price for the company. Finally, TD Cowen lifted their price target on shares of Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a research note on Monday, September 16th. One 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’s stock. According to data from MarketBeat.com, Frontier Group currently 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.