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 business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $8.38, for a total value of $1,340,800.00. Following the sale, the chief executive officer now directly owns 864,817 shares in the company, valued at $7,247,166.46. The trade was a 15.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 value of $1,100,800.00.

Frontier Group Stock Performance

Shares of Frontier Group stock traded up $0.32 on Friday, reaching $8.58. 2,842,829 shares of the stock were exchanged, compared to its average volume of 2,550,932. 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 twelve month low of $2.79 and a twelve month high of $8.74. The business has a 50 day moving average price of $6.70 and a two-hundred day moving average price of $5.32. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -214.45 and a beta of 2.32.

Frontier Group (NASDAQ:ULCC) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The business had revenue of $935.00 million during the quarter, compared to analyst estimates of $943.30 million. During the same period in the prior year, the firm earned ($0.14) EPS. The business’s revenue was up 5.9% on a year-over-year basis. 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

Several large investors have recently made changes to their positions in ULCC. U S Global Investors Inc. increased its holdings in 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 buying an additional 3,150,768 shares in the last quarter. AlTi Global Inc. acquired a new stake in shares of Frontier Group during the 2nd quarter valued at 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 purchasing an additional 441,001 shares in the last quarter. Verition Fund Management LLC increased its position 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 valued at $3,457,000 after buying an additional 453,736 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Frontier Group by 81.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 599,006 shares of the company’s stock worth $3,205,000 after buying an additional 269,221 shares during the period.

Analyst Ratings Changes

ULCC has been the subject of several research analyst reports. Barclays lifted their target price on Frontier Group from $7.00 to $10.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Susquehanna boosted their price objective on shares of Frontier Group from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. UBS Group lifted their price target on shares of Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Citigroup raised their price objective on Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Evercore ISI upped their target price on Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Frontier Group has an average rating of “Hold” and an average 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.