Frontier Group Holdings, Inc. (NASDAQ:ULCC) Director Josh T. Connor Sells 30,000 Shares

Frontier Group Holdings, Inc. (NASDAQ:ULCC) Director Josh T. Connor sold 30,000 shares of Frontier Group stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $5.74, for a total transaction of $172,200.00. Following the transaction, the director now directly owns 326,550 shares of the company’s stock, valued at approximately $1,874,397. This trade represents a 8.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Frontier Group Price Performance

Shares of NASDAQ:ULCC opened at $5.93 on Friday. The business has a 50-day simple moving average of $6.03 and a two-hundred day simple moving average of $4.93. Frontier Group Holdings, Inc. has a fifty-two week low of $2.79 and a fifty-two week high of $8.33. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -148.25 and a beta of 2.43. 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 announced its earnings results 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 for the quarter, compared to analyst estimates of $943.30 million. The company’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.14) EPS. On average, analysts expect that Frontier Group Holdings, Inc. will post 0.04 earnings per share for the current year.

Analysts Set New Price Targets

ULCC has been the subject of a number of analyst reports. 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 Frontier Group from an “underperform” rating to a “market perform” rating in a research note on Monday, September 30th. UBS Group initiated coverage on Frontier Group in a research note on Tuesday, November 26th. They issued a “neutral” rating and a $6.00 target price on the stock. TD Cowen lifted their price target on Frontier Group from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Monday, September 16th. Finally, Citigroup upped their price target on shares of Frontier Group from $4.70 to $7.15 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.32.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Frontier Group by 11.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,010 shares of the company’s stock valued at $211,000 after purchasing an additional 2,746 shares during the period. Arizona State Retirement System grew its position in Frontier Group by 29.0% during the second quarter. Arizona State Retirement System now owns 15,672 shares of the company’s stock valued at $77,000 after buying an additional 3,521 shares during the period. Rhumbline Advisers increased its holdings in Frontier Group by 2.3% during the second quarter. Rhumbline Advisers now owns 160,070 shares of the company’s stock valued at $789,000 after buying an additional 3,543 shares during the last quarter. Blue Trust Inc. raised its position in Frontier Group by 41.2% in the third quarter. Blue Trust Inc. now owns 12,828 shares of the company’s stock worth $63,000 after acquiring an additional 3,744 shares during the period. Finally, XTX Topco Ltd raised its position in Frontier Group by 10.6% in the second quarter. XTX Topco Ltd now owns 41,103 shares of the company’s stock worth $203,000 after acquiring an additional 3,936 shares during the period.

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.