Insider Selling: Frontier Group (NASDAQ:ULCC) CFO Sells $332,503.70 in Stock

Frontier Group Holdings, Inc. (NASDAQ:ULCC) CFO Mark Mitchell sold 40,798 shares of the business’s stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $8.15, for a total value of $332,503.70. Following the completion of the transaction, the chief financial officer directly owned 66,584 shares of the company’s stock, valued at $542,659.60. The trade was a 37.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Frontier Group Stock Performance

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

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

Institutional Investors Weigh In On Frontier Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC acquired a new position in Frontier Group during the second quarter worth $28,000. Allworth Financial LP acquired a new stake in shares of Frontier Group in the second quarter valued at about $43,000. Legal & General Group Plc acquired a new stake in shares of Frontier Group in the second quarter valued at about $46,000. Signaturefd LLC increased its stake in shares of Frontier Group by 81.7% during the third quarter. Signaturefd LLC now owns 6,020 shares of the company’s stock worth $36,000 after purchasing an additional 2,707 shares in the last quarter. Finally, Atlas Wealth LLC purchased a new stake in shares of Frontier Group during the first quarter worth about $33,000.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Susquehanna lifted their price objective on shares of Frontier Group from $6.00 to $6.50 and gave the company a “neutral” rating in a report on Thursday, October 29th. Deutsche Bank raised shares of Frontier Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $7.00 to $10.00 in a research note on Thursday, November 5th. UBS Group raised 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. Barclays cut their price target 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. Finally, Zacks Research cut Frontier Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company 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.