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 that occurred on Monday, January 6th. The shares were sold at an average price of $7.88, for a total transaction of $1,260,800.00. Following the sale, the chief executive officer now directly owns 1,024,817 shares of the company’s stock, valued at approximately $8,075,557.96. This trade represents a 13.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Barry Biffle also recently made the following trade(s):

• On Monday, December 23rd, Barry Biffle sold 160,000 shares of Frontier Group stock. The stock was sold at an average price of $6.88, for a total value of $1,100,800.00.

Frontier Group Trading Up 4.1 %

Shares of ULCC traded up $0.33 during midday trading on Tuesday, reaching $8.32. The company had a trading volume of 3,172,422 shares, compared to its average volume of 3,506,030. Frontier Group Holdings, Inc. has a 1-year low of $2.79 and a 1-year high of $8.41. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57. The firm has a 50 day simple moving average of $6.36 and a 200-day simple moving average of $5.14. The stock has a market cap of $1.88 billion, a PE ratio of -207.95 and a beta of 2.32.

Frontier Group (NASDAQ:ULCC) last posted 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 business had revenue of $935.00 million during the quarter, compared to the consensus estimate of $943.30 million. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.14) EPS. Research analysts forecast that Frontier Group Holdings, Inc. will post 0.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Raymond James upgraded Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. TD Cowen increased their target price 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. Morgan Stanley dropped their price target on shares of 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. Evercore ISI upped their price target on shares of Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Finally, Barclays raised their price objective on shares of Frontier Group from $7.00 to $10.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.96.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ULCC. Victory Capital Management Inc. purchased a new stake in shares of Frontier Group in the 3rd quarter valued at approximately $54,000. Ballentine Partners LLC acquired a new position in shares of Frontier Group during the third quarter worth $55,000. Vanguard Personalized Indexing Management LLC purchased a new position in Frontier Group in the second quarter valued at $58,000. Blue Trust Inc. raised its stake in Frontier Group by 41.2% in the third quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock valued at $63,000 after buying an additional 3,744 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in 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 buying an additional 8,507 shares in the last quarter.

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.