Barry Biffle Sells 160,000 Shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) 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 owns 1,024,817 shares in the company, valued at approximately $8,075,557.96. The trade was a 13.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 Stock Down 1.9 %

NASDAQ ULCC opened at $8.16 on Friday. The stock’s 50-day moving average price is $6.49 and its 200-day moving average price is $5.20. The company has a market capitalization of $1.84 billion, a P/E ratio of -203.95 and a beta of 2.32. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.57. Frontier Group Holdings, Inc. has a 52 week low of $2.79 and a 52 week high of $8.41.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $943.30 million. Frontier Group’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.14) earnings per share. On average, equities research analysts predict that Frontier Group Holdings, Inc. will post 0.05 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ULCC. Deutsche Bank Aktiengesellschaft raised Frontier Group from a “hold” rating to a “buy” rating and upped their price target for the company from $6.00 to $8.00 in a report on Wednesday, December 11th. Bank of America dropped their price target on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Raymond James raised shares of Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. Evercore ISI raised their target price 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, TD Cowen boosted 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.96.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ULCC. U S Global Investors Inc. lifted 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 acquiring an additional 3,150,768 shares in the last quarter. AlTi Global Inc. bought a new stake in Frontier Group during the 2nd quarter valued at approximately $21,222,000. Geode Capital Management LLC lifted 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 purchasing an additional 441,001 shares in the last quarter. Verition Fund Management LLC boosted its stake in Frontier Group by 235.7% in the 3rd 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 during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Frontier Group by 81.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock valued at $3,205,000 after buying an additional 269,221 shares in the last quarter.

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.