Frontier Group Holdings, Inc. (NASDAQ:ULCC) CEO Barry Biffle 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 on Wednesday, January 15th. The stock was sold at an average price of $8.38, for a total value of $1,340,800.00. Following the completion of the transaction, the chief executive officer now owns 864,817 shares in the company, valued at approximately $7,247,166.46. This represents a 15.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, January 17th, Barry Biffle sold 273,000 shares of Frontier Group stock. The stock was sold at an average price of $8.44, for a total transaction of $2,304,120.00.
• On Monday, January 6th, Barry Biffle sold 160,000 shares of Frontier Group stock. The stock was sold at an average price of $7.88, for a total transaction of $1,260,800.00.
• On Monday, December 23rd, Barry Biffle sold 160,000 shares of Frontier Group stock. The shares were sold at an average price of $6.88, for a total value of $1,100,800.00.

Frontier Group Price Performance

Frontier Group stock opened at $8.58 on Friday. The firm has a 50 day moving average price of $6.74 and a 200-day moving average price of $5.35. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.53 and a quick ratio of 0.48. Frontier Group Holdings, Inc. has a twelve month low of $2.79 and a twelve month high of $8.74.

Frontier Group (NASDAQ:ULCC) last announced 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 business had revenue of $935.00 million during the quarter, compared to analyst estimates of $943.30 million. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the business posted ($0.14) earnings per share. On average, sell-side analysts predict that Frontier Group Holdings, Inc. will post 0.07 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ULCC shares. Citigroup raised their target price on Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft raised shares of Frontier Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $6.00 to $8.00 in a report on Wednesday, December 11th. Susquehanna increased their target price on shares of Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Evercore ISI boosted their price target on shares of Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Finally, Barclays increased their price objective on shares of Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Frontier Group has an average rating of “Hold” and an average target price of $6.96.

Institutional Investors Weigh In On Frontier Group

Large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new position in Frontier Group during the third quarter worth about $54,000. Ballentine Partners LLC purchased a new stake in shares of Frontier Group during the 3rd quarter valued at approximately $55,000. Nisa Investment Advisors LLC boosted its holdings in Frontier Group by 1,230.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock worth $57,000 after buying an additional 7,380 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new position in Frontier Group in the 2nd quarter valued at approximately $58,000. Finally, Blue Trust Inc. raised its holdings in Frontier Group by 41.2% during the 3rd quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock valued at $63,000 after acquiring an additional 3,744 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.