Howard Diamond Sells 87,830 Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) Stock

Frontier Group Holdings, Inc. (NASDAQ:ULCC) EVP Howard Diamond sold 87,830 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $8.77, for a total value of $770,269.10. Following the transaction, the executive vice president now owns 175,886 shares of the company’s stock, valued at approximately $1,542,520.22. This represents a 33.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Frontier Group Stock Down 3.1 %

Shares of NASDAQ ULCC opened at $7.69 on Tuesday. Frontier Group Holdings, Inc. has a 12-month low of $2.79 and a 12-month high of $10.26. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.45. The stock has a market cap of $1.75 billion, a P/E ratio of 21.36 and a beta of 2.35. The business’s fifty day simple moving average is $8.05 and its 200-day simple moving average is $6.21.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings results on Friday, February 7th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.20. Frontier Group had a return on equity of 9.83% and a net margin of 2.25%. As a group, equities analysts predict that Frontier Group Holdings, Inc. will post 0.91 EPS for the current fiscal year.

Institutional Trading of Frontier Group

A number of hedge funds and other institutional investors have recently bought and sold shares of ULCC. R Squared Ltd acquired a new stake in Frontier Group in the fourth quarter valued at $32,000. KLP Kapitalforvaltning AS acquired a new stake in Frontier Group in the fourth quarter valued at $50,000. Victory Capital Management Inc. acquired a new stake in Frontier Group in the third quarter valued at $54,000. Ballentine Partners LLC acquired a new stake in Frontier Group in the third quarter valued at $55,000. Finally, Nisa Investment Advisors LLC increased its position in shares of Frontier Group by 1,230.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock worth $57,000 after purchasing an additional 7,380 shares in the last quarter.

Wall Street Analysts Forecast Growth

ULCC has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded Frontier Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $6.00 to $8.00 in a research report on Wednesday, December 11th. UBS Group raised their price target on Frontier Group from $6.00 to $8.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Barclays raised their price target on Frontier Group from $10.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Susquehanna raised their price target on Frontier Group from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Finally, Morgan Stanley increased their price objective on Frontier Group from $7.00 to $10.00 and gave the company an “equal weight” rating in a research note on Monday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Frontier Group currently has an average rating of “Hold” and a consensus target price of $7.74.

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.