Frontier Group (NASDAQ:ULCC) Stock: Insider Mark Christopher Mitchell Sells 40,798 Shares

Key Points

• CFO Mark Christopher Mitchell sold 40,798 Frontier Group shares at an average of $8.15, receiving about $332,504. After the sale, he directly owned 66,584 shares—a 37.99% reduction in his position.
• Frontier reported quarterly EPS of $0.18, beating the consensus estimate of a $0.06 loss, while revenue of $1.35 billion exceeded forecasts and rose 52.9% year over year.
• Shares fell 4.7% to $7.70 in Thursday mid-day trading. Analysts’ average rating was “Reduce,” with an average price target of $7.07.

Frontier Group Holdings, Inc. (NASDAQ:ULCC - Get Free Report) CFO Mark Mitchell sold 40,798 shares of the firm's stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $8.15, for a total value of $332,503.70. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Frontier Group Stock Down 4.7%

NASDAQ:ULCC traded down $0.38 during mid-day trading on Thursday, hitting $7.70. 3,546,064 shares of the company's stock traded hands, compared to its average volume of 4,205,664. The company has a fifty day moving average of $5.99 and a 200 day moving average of $5.52. Frontier Group Holdings, Inc. has a twelve month low of $3.02 and a twelve month high of $8.53. The company 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 debt-to-equity ratio of 10.68, a quick ratio of 0.57 and a current ratio of 0.62.

Frontier Group (NASDAQ:ULCC - Get Free Report) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the company earned ($0.34) earnings per share. The company's quarterly revenue was up 52.9% on a year-over-year basis. On average, analysts forecast that Frontier Group Holdings, Inc. will post -0.27 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ULCC shares. Barclays cut their price target on shares of Frontier Group from $7.00 to $5.00 and set an "underweight" rating on the stock in a research note on Friday, September 11th. Deutsche Bank raised shares of Frontier Group from a "hold" rating to a "buy" rating and boosted their price objective for the company from $7.00 to $10.00 in a report on Thursday, November 5th. Weiss Ratings reissued a "sell (d-)" rating on shares of Frontier Group in a research report on Wednesday, October 28th. UBS Group raised their target price on Frontier Group from $6.00 to $7.00 and gave the stock a "neutral" rating in a research note on Friday, October 30th. Finally, Susquehanna lifted their price target on Frontier Group from $6.00 to $6.50 and gave the stock a "neutral" rating in a research report on Thursday, October 29th. 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 company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $7.07.

Institutional Trading of Frontier Group

A number of hedge funds and other institutional investors have recently made changes to their positions in ULCC. Integrated Wealth Concepts LLC purchased a new stake in Frontier Group in the second quarter valued at $28,000. Atlas Wealth LLC purchased a new position in shares of Frontier Group during the 1st quarter valued at about $33,000. Signaturefd LLC raised its stake in shares of Frontier Group by 81.7% during the 3rd quarter. Signaturefd LLC now owns 6,020 shares of the company's stock valued at $36,000 after buying an additional 2,707 shares during the last quarter. Allworth Financial LP acquired a new position in shares of Frontier Group in the 2nd quarter valued at about $43,000. Finally, Legal & General Group Plc acquired a new position in shares of Frontier Group in the 2nd quarter valued at about $46,000.

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.

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