Frontier Group (NASDAQ:ULCC) EVP Sells 35,401 Shares of Company Stock

Frontier Group Holdings, Inc. (NASDAQ:ULCC) EVP Howard Diamond sold 35,401 shares of Frontier Group 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 completion of the transaction, the executive vice president owned 133,126 shares in the company, valued at approximately $1,118,258.40. This trade represents a 21.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Frontier Group Trading Down 4.7%

Shares of NASDAQ ULCC traded down $0.38 during trading on Thursday, hitting $7.70. 3,546,064 shares of the company traded hands, compared to its average volume of 4,205,664. The firm has a market capitalization of $1.77 billion, a P/E ratio of -4.30 and a beta of 2.71. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 10.68. The company has a 50-day moving average price of $5.99 and a 200-day moving average price of $5.52. Frontier Group Holdings, Inc. has a 1 year low of $3.02 and a 1 year high of $8.53.

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

Institutional Investors Weigh In On Frontier Group

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ULCC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Frontier Group in a research note on Wednesday, October 28th. Deutsche Bank upgraded shares of Frontier Group from a “hold” rating to a “buy” rating and raised their price target for the company from $7.00 to $10.00 in a report on Thursday, November 5th. Susquehanna lifted their price target on shares of Frontier Group from $6.00 to $6.50 and gave the company a “neutral” rating in a research report on Thursday, October 29th. Barclays decreased their price objective on shares of Frontier Group from $7.00 to $5.00 and set an “underweight” rating for the company in a research note on Friday, September 11th. Finally, UBS Group boosted their price objective on shares of Frontier Group from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, October 30th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Frontier Group presently has a consensus rating of “Reduce” and an average price target of $7.07.

Frontier Group Company Profile

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.