Manatuck Hill Partners LLC Invests $731,000 in Frontline PLC $FRO

Manatuck Hill Partners LLC bought a new stake in Frontline PLC (NYSE:FRO) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 21,007 shares of the shipping company’s stock, valued at approximately $731,000.

Several other institutional investors also recently bought and sold shares of FRO. Arrowstreet Capital Limited Partnership grew its holdings in Frontline by 4,659.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,783,681 shares of the shipping company’s stock worth $202,080,000 after acquiring an additional 5,662,172 shares during the last quarter. BlackRock Inc. bought a new position in shares of Frontline during the second quarter valued at about $50,846,000. Cooper Creek Partners Management LLC purchased a new stake in shares of Frontline during the first quarter worth about $26,911,000. Voloridge Investment Management LLC purchased a new stake in shares of Frontline during the fourth quarter worth about $15,676,000. Finally, Balyasny Asset Management L.P. grew its stake in shares of Frontline by 44.0% in the third quarter. Balyasny Asset Management L.P. now owns 2,247,120 shares of the shipping company’s stock worth $51,212,000 after purchasing an additional 686,212 shares during the last quarter. 22.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FRO has been the topic of a number of research analyst reports. DZ Bank downgraded Frontline from a “hold” rating to a “sell” rating in a report on Friday, August 21st. Weiss Ratings cut Frontline from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, August 12th. BTIG Research raised their price target on Frontline from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Danske cut shares of Frontline from a “hold” rating to a “sell” rating in a report on Friday. Finally, Wall Street Zen downgraded shares of Frontline from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $41.62.

Frontline Price Performance

Shares of FRO stock opened at $43.38 on Wednesday. The business’s fifty day moving average is $39.14 and its 200 day moving average is $36.52. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.83. The stock has a market cap of $9.66 billion, a price-to-earnings ratio of 10.69 and a beta of 0.02. Frontline PLC has a twelve month low of $19.87 and a twelve month high of $45.17.

Frontline Profile

Frontline Ltd. (NYSE:FRO) is a leading global shipping company specializing in the seaborne transportation of crude oil and petroleum products. The company’s core business activities encompass the ownership and operation of very large crude carriers (VLCCs), Suezmax tankers and Aframax vessels. Through long-term charters, spot market operations and time charters, Frontline provides flexible shipping solutions that cater to a diverse set of energy producers, refiners and trading houses worldwide.

Frontline’s fleet is geared toward high-capacity, ocean-going tankers capable of carrying large volumes of crude oil over intercontinental distances.