Insider Selling: Frontier Group Holdings, Inc. (NASDAQ:ULCC) CEO Sells 160,000 Shares of Stock

Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) CEO Barry Biffle sold 160,000 shares of the company's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $6.88, for a total transaction of $1,100,800.00. Following the transaction, the chief executive officer now owns 784,817 shares in the company, valued at approximately $5,399,540.96. This trade represents a 16.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Frontier Group Price Performance

NASDAQ:ULCC traded up $0.15 during trading hours on Thursday, reaching $7.29. 1,792,282 shares of the company were exchanged, compared to its average volume of 2,174,348. 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 market cap of $1.64 billion, a PE ratio of -182.20 and a beta of 2.43. Frontier Group Holdings, Inc. has a twelve month low of $2.79 and a twelve month high of $8.33. The stock's 50-day moving average is $6.30 and its 200-day moving average is $5.03.

Frontier Group (NASDAQ:ULCC - Get Free Report) last released 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 company had revenue of $935.00 million for the quarter, compared to analysts' expectations of $943.30 million. During the same period in the previous year, the business posted ($0.14) EPS. The firm's revenue was up 5.9% on a year-over-year basis. On average, sell-side analysts anticipate that Frontier Group Holdings, Inc. will post 0.05 earnings per share for the current fiscal year.

Institutional Trading of Frontier Group

A number of institutional investors have recently made changes to their positions in the company. U S Global Investors Inc. lifted its holdings 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 in the last quarter. AlTi Global Inc. purchased a new position in shares of Frontier Group in the second quarter worth about $21,222,000. 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 acquiring an additional 441,001 shares during the last quarter. Verition Fund Management LLC grew its stake in Frontier Group by 235.7% during the 3rd quarter. Verition Fund Management LLC now owns 646,243 shares of the company's stock valued at $3,457,000 after acquiring an additional 453,736 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Frontier Group by 81.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company's stock valued at $3,205,000 after acquiring an additional 269,221 shares during the last quarter.

Analyst Ratings Changes

ULCC has been the subject of a number of research reports. Morgan Stanley decreased their target price on Frontier Group from $8.00 to $7.00 and set an "equal weight" rating for the company in a report on Wednesday, December 11th. Evercore ISI upped their price objective on shares of Frontier Group from $4.00 to $5.00 and gave the company an "in-line" rating in a report on Thursday, October 3rd. 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. Raymond James raised shares of Frontier Group from an "underperform" rating to a "market perform" rating in a report on Monday, September 30th. Finally, TD Cowen boosted their price objective on Frontier Group from $3.00 to $4.00 and gave the company a "hold" rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Frontier Group presently has an average rating of "Hold" and an average price target of $6.46.

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.