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 Wednesday, January 15th. The stock was sold at an average price of $8.38, for a total transaction of $1,340,800.00. Following the completion of the sale, the chief executive officer now owns 864,817 shares of the company’s stock, valued at approximately $7,247,166.46. The trade was a 15.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, January 17th, Barry Biffle sold 273,000 shares of Frontier Group stock. The stock was sold at an average price of $8.44, for a total transaction of $2,304,120.00.
• On Monday, January 6th, Barry Biffle sold 160,000 shares of Frontier Group stock. The stock was 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 transaction of $1,100,800.00.

Frontier Group Price Performance

NASDAQ:ULCC opened at $8.58 on Friday. The company has a 50-day moving average of $6.74 and a 200-day moving average of $5.35. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of -214.45 and a beta of 2.32. Frontier Group Holdings, Inc. has a 52 week low of $2.79 and a 52 week high of $8.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.48 and a current ratio of 0.53.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates 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. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.14) earnings per share. As a group, equities research analysts anticipate that Frontier Group Holdings, Inc. will post 0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Frontier Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. bought a new position in Frontier Group during the 3rd quarter valued at about $54,000. Ballentine Partners LLC bought a new position in Frontier Group during the 3rd quarter valued at about $55,000. Nisa Investment Advisors LLC lifted its holdings in Frontier Group by 1,230.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,980 shares of the company’s stock valued at $57,000 after purchasing an additional 7,380 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in Frontier Group during the 2nd quarter valued at about $58,000. Finally, Blue Trust Inc. lifted its holdings in Frontier Group by 41.2% during the 3rd quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock valued at $63,000 after purchasing an additional 3,744 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ULCC. Evercore ISI raised their target price 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. Citigroup raised their target price on shares of Frontier Group from $4.70 to $7.15 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Barclays raised their target price on shares of 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 upgraded shares of Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. Finally, Morgan Stanley lowered their target price on shares of Frontier Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.96.

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.