Insider Selling: Frontier Group Holdings, Inc. (NASDAQ:ULCC) CEO Sells 273,000 Shares of Stock

Frontier Group Holdings, Inc. (NASDAQ:ULCC) CEO Barry Biffle sold 273,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $8.44, for a total transaction of $2,304,120.00. Following the sale, the chief executive officer now directly owns 816,817 shares in the company, valued at approximately $6,893,935.48. This represents a 25.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, January 15th, Barry Biffle sold 160,000 shares of Frontier Group stock. The stock was sold at an average price of $8.38, for a total transaction of $1,340,800.00.
• On Monday, January 6th, Barry Biffle sold 160,000 shares of Frontier Group stock. The shares were 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 stock was sold at an average price of $6.88, for a total value of $1,100,800.00.

Frontier Group Price Performance

ULCC opened at $8.58 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. The firm has a fifty day moving average price of $6.74 and a 200 day moving average price of $5.35. Frontier Group Holdings, Inc. has a 1 year low of $2.79 and a 1 year high of $8.74.

Frontier Group (NASDAQ:ULCC) last posted its earnings results on Tuesday, October 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate 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 prior year, the firm posted ($0.14) earnings per share. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. On average, research analysts anticipate that Frontier Group Holdings, Inc. will post 0.07 earnings per share for the current year.

Hedge Funds Weigh In On Frontier Group

A number of hedge funds have recently bought and sold shares of ULCC. U S Global Investors Inc. increased its position in shares of Frontier Group by 71.4% in the third quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock valued at $40,473,000 after buying an additional 3,150,768 shares in the last quarter. AlTi Global Inc. purchased a new stake in Frontier Group in the 2nd quarter worth $21,222,000. Geode Capital Management LLC increased 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 worth $8,512,000 after acquiring an additional 441,001 shares in the last quarter. Verition Fund Management LLC raised its position in Frontier Group by 235.7% during the third quarter. Verition Fund Management LLC now owns 646,243 shares of the company’s stock worth $3,457,000 after acquiring an additional 453,736 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Frontier Group by 81.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock valued at $3,205,000 after purchasing an additional 269,221 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised Frontier Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $6.00 to $8.00 in a report on Wednesday, December 11th. Susquehanna increased their price target on shares of Frontier Group from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Evercore ISI lifted their price objective on shares of Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. UBS Group upped their price objective on shares of Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Finally, Citigroup raised their target price on shares of Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $6.96.

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.