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 firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $7.88, for a total value of $1,260,800.00. Following the transaction, the chief executive officer now owns 1,024,817 shares of the company’s stock, valued at $8,075,557.96. This trade represents a 13.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $6.88, for a total transaction of $1,100,800.00.

Frontier Group Price Performance

ULCC stock opened at $8.16 on Thursday. 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 fifty-two week low of $2.79 and a fifty-two week high of $8.41. The business has a 50 day moving average price of $6.44 and a 200 day moving average price of $5.18. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -203.95 and a beta of 2.32.

Frontier Group (NASDAQ:ULCC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.05) EPS 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 quarter in the prior year, the company earned ($0.14) EPS. Frontier Group’s quarterly revenue was up 5.9% compared to the same quarter last year. Equities research analysts anticipate that Frontier Group Holdings, Inc. will post 0.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ULCC shares. Susquehanna upped their target price on shares of Frontier Group from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday. Citigroup upped their price objective on Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Evercore ISI boosted their target price on Frontier Group from $4.00 to $5.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. Raymond James upgraded Frontier Group from an “underperform” rating to a “market perform” rating in a report on Monday, September 30th. Finally, UBS Group lifted their price objective on Frontier Group from $6.00 to $8.50 and gave the company a “neutral” rating in a research note on Tuesday. 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 company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.96.

Institutional Trading of Frontier Group

Large investors have recently made changes to their positions in the company. Victory Capital Management Inc. purchased a new stake in Frontier Group in the third quarter valued at approximately $54,000. Ballentine Partners LLC acquired a new position in shares of Frontier Group in the 3rd quarter valued at $55,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Frontier Group in the 2nd quarter valued at $58,000. Blue Trust Inc. boosted its stake in Frontier Group by 41.2% during the 3rd quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock worth $63,000 after purchasing an additional 3,744 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Frontier Group by 251.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,896 shares of the company’s stock worth $64,000 after purchasing an additional 8,507 shares during 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.