Frontier Group (NASDAQ:ULCC) EVP Sells $297,368.40 in Stock

Frontier Group Holdings, Inc. (NASDAQ:ULCC) EVP Howard Diamond sold 35,401 shares of the firm’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $8.40, for a total transaction of $297,368.40. Following the sale, the executive vice president directly owned 133,126 shares of the company’s stock, valued at approximately $1,118,258.40. The trade was a 21.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Frontier Group Stock Down 4.7%

Frontier Group stock traded down $0.38 during midday trading on Thursday, hitting $7.70. 3,546,064 shares of the stock were exchanged, compared to its average volume of 4,205,664. Frontier Group Holdings, Inc. has a 1 year low of $3.02 and a 1 year high of $8.53. The firm has a market cap of $1.77 billion, a P/E ratio of -4.30 and a beta of 2.71. The company has a debt-to-equity ratio of 10.68, a current ratio of 0.62 and a quick ratio of 0.57. The company has a 50 day moving average price of $5.99 and a two-hundred day moving average price of $5.52.

Frontier Group (NASDAQ:ULCC) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.24. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Frontier Group had a negative net margin of 8.93% and a positive return on equity of 1.35%. The firm’s revenue for the quarter was up 52.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.34) EPS. On average, sell-side analysts predict that Frontier Group Holdings, Inc. will post -0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Frontier Group

Several large investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC grew its stake in Frontier Group by 2.1% in the third quarter. Commonwealth Equity Services LLC now owns 73,534 shares of the company’s stock worth $439,000 after purchasing an additional 1,498 shares in the last quarter. Signaturefd LLC raised its stake in Frontier Group by 81.7% during the third quarter. Signaturefd LLC now owns 6,020 shares of the company’s stock valued at $36,000 after buying an additional 2,707 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Frontier Group by 3.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 92,787 shares of the company’s stock valued at $734,000 after buying an additional 3,461 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Frontier Group during the 2nd quarter worth approximately $28,000. Finally, Allworth Financial LP bought a new position in Frontier Group during the 2nd quarter worth approximately $43,000.

Analysts Set New Price Targets

ULCC has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Frontier Group in a research note on Wednesday, October 28th. Barclays lowered their price objective on Frontier Group from $7.00 to $5.00 and set an “underweight” rating for the company in a research note on Friday, September 11th. Susquehanna lifted their price objective on Frontier Group from $6.00 to $6.50 and gave the stock a “neutral” rating in a report on Thursday, October 29th. UBS Group upped their target price on Frontier Group from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Friday, October 30th. Finally, Deutsche Bank raised Frontier Group from a “hold” rating to a “buy” rating and upped their target price for the company from $7.00 to $10.00 in a research report on Thursday, November 5th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $7.07.

About Frontier Group

Frontier Group Holdings, Inc. is the parent company of Frontier Airlines, an ultra-low-cost passenger airline based in Denver, Colorado. The airline focuses on offering low base fares, with services such as checked baggage, seat selection and other travel options available for additional fees. Frontier Airlines began operating in 1994 and has expanded its route network over time. It serves destinations across the United States, Mexico, the Caribbean and Central America, connecting travelers through scheduled domestic and international flights.