Insider Selling: Frontier Group Holdings, Inc. (NASDAQ:ULCC) Director Sells 30,000 Shares of Stock

Frontier Group Holdings, Inc. (NASDAQ:ULCC) Director Josh T. Connor sold 30,000 shares of Frontier Group stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $5.74, for a total value of $172,200.00. Following the completion of the transaction, the director now directly owns 326,550 shares of the company’s stock, valued at approximately $1,874,397. This trade represents a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Frontier Group Stock Down 1.3 %

Shares of NASDAQ:ULCC traded down $0.08 during mid-day trading on Thursday, hitting $5.93. 2,335,876 shares of the company traded hands, compared to its average volume of 2,142,052. The stock has a market cap of $1.34 billion, a P/E ratio of -148.21 and a beta of 2.43. The stock has a 50-day moving average price of $6.03 and a two-hundred day moving average price of $4.93. Frontier Group Holdings, Inc. has a 12-month low of $2.79 and a 12-month high of $8.33. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.57.

Frontier Group (NASDAQ:ULCC) last announced its earnings results on Tuesday, October 29th. The company reported ($0.05) 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 the consensus estimate of $943.30 million. During the same period in the prior year, the company posted ($0.14) EPS. Frontier Group’s revenue was up 5.9% compared to the same quarter last year. On average, equities research analysts forecast that Frontier Group Holdings, Inc. will post 0.04 earnings per share for the current year.

Hedge Funds Weigh In On Frontier Group

Several institutional investors have recently modified their holdings of ULCC. U S Global Investors Inc. grew its stake in Frontier Group by 71.4% in the 3rd quarter. U S Global Investors Inc. now owns 7,564,954 shares of the company’s stock valued at $40,473,000 after purchasing an additional 3,150,768 shares during the period. AlTi Global Inc. bought a new position in shares of Frontier Group during the 2nd quarter worth $21,222,000. Vanguard Group Inc. increased its holdings in Frontier Group by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 4,116,430 shares of the company’s stock worth $33,384,000 after acquiring an additional 60,943 shares during the last quarter. Geode Capital Management LLC boosted its position in Frontier Group by 38.4% during the third quarter. Geode Capital Management LLC now owns 1,590,598 shares of the company’s stock worth $8,512,000 after purchasing an additional 441,001 shares during the period. Finally, Verition Fund Management LLC increased its stake in shares of Frontier Group by 235.7% in the third quarter. Verition Fund Management LLC now owns 646,243 shares of the company’s stock worth $3,457,000 after purchasing an additional 453,736 shares in the last quarter.

Analyst Ratings Changes

ULCC has been the topic of several recent analyst reports. Barclays boosted their price target on Frontier Group from $7.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Raymond James raised shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. Susquehanna raised their price target on shares of Frontier Group from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Frontier Group from $5.00 to $4.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, Evercore ISI boosted their target price on Frontier Group from $4.00 to $5.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $6.32.

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.