Key Points
- Frontier EVP Howard Diamond sold 35,401 shares at an average $8.40 each, totaling about $297,368. He retained 133,126 shares after the sale, a 21.01% reduction in his position.
- Frontier beat quarterly earnings and revenue estimates, reporting EPS of $0.18 versus a consensus loss of $0.06 and revenue of $1.35 billion, up 52.9% year over year.
- Analyst sentiment was mixed but leaned cautious: the average rating was “Reduce” with a $7.07 price target, while ULCC shares were reported down 4.7%.
Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) 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 value of $297,368.40. Following the sale, the executive vice president directly owned 133,126 shares of the company's stock, valued at $1,118,258.40. This represents a 21.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Frontier Group Trading Down 4.7%
ULCC stock opened at $7.70 on Friday. Frontier Group Holdings, Inc. has a one year low of $3.02 and a one year high of $8.53. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of -4.30 and a beta of 2.71. The company has a fifty day moving average price of $6.03 and a two-hundred day moving average price of $5.54. The company has a debt-to-equity ratio of 10.68, a current ratio of 0.62 and a quick ratio of 0.57.
Frontier Group (NASDAQ:ULCC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.24. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.29 billion. Frontier Group had a negative net margin of 8.93% and a positive return on equity of 1.35%. The company's revenue was up 52.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.34) earnings per share. Equities analysts anticipate that Frontier Group Holdings, Inc. will post -0.27 EPS for the current year.
Institutional Trading of Frontier Group
Several hedge funds and other institutional investors have recently bought and sold shares of ULCC. Integrated Wealth Concepts LLC bought a new stake in Frontier Group in the 2nd quarter valued at about $28,000. Atlas Wealth LLC acquired a new position in shares of Frontier Group during the 1st quarter worth approximately $33,000. Signaturefd LLC grew its position in shares of 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 purchasing an additional 2,707 shares in the last quarter. Allworth Financial LP acquired a new position in shares of Frontier Group during the 2nd quarter worth approximately $43,000. Finally, Legal & General Group Plc bought a new position in shares of Frontier Group during the second quarter worth approximately $46,000.
Analyst Ratings Changes
Several research analysts have weighed in on ULCC shares. Barclays lowered their price target on shares of Frontier Group from $7.00 to $5.00 and set an "underweight" rating on the stock in a report on Friday, September 11th. Weiss Ratings restated a "sell (d-)" rating on shares of Frontier Group in a report on Wednesday, October 28th. Zacks Research cut Frontier Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 27th. Susquehanna upped their target price on Frontier Group from $6.00 to $6.50 and gave the company a "neutral" rating in a research report on Thursday, October 29th. Finally, Deutsche Bank upgraded 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. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Frontier Group has an average rating of "Reduce" and an average target price of $7.07.
Check Out Our Latest Stock Analysis on Frontier Group
Frontier Group Company Profile
(
Get Free Report)
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.
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