Aperio Group LLC purchased a new position in Frontline Ltd. (NYSE:FRO) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 21,648 shares of the shipping company’s stock, valued at approximately $124,000.
A number of other hedge funds have also added to or reduced their stakes in the business. Legal & General Group Plc boosted its holdings in shares of Frontline by 3.8% during the first quarter. Legal & General Group Plc now owns 16,056 shares of the shipping company’s stock valued at $108,000 after acquiring an additional 581 shares during the period. American International Group Inc. lifted its holdings in Frontline by 7.6% in the first quarter. American International Group Inc. now owns 40,205 shares of the shipping company’s stock worth $271,000 after purchasing an additional 2,841 shares during the period. KCG Holdings Inc. lifted its holdings in Frontline by 40.3% in the first quarter. KCG Holdings Inc. now owns 25,073 shares of the shipping company’s stock worth $169,000 after purchasing an additional 7,205 shares during the period. Teachers Advisors LLC lifted its holdings in Frontline by 6.8% in the first quarter. Teachers Advisors LLC now owns 114,881 shares of the shipping company’s stock worth $774,000 after purchasing an additional 7,266 shares during the period. Finally, Swiss National Bank lifted its holdings in Frontline by 8.6% in the first quarter. Swiss National Bank now owns 126,219 shares of the shipping company’s stock worth $845,000 after purchasing an additional 10,000 shares during the period. Hedge funds and other institutional investors own 12.35% of the company’s stock.
A number of brokerages have weighed in on FRO. Credit Suisse Group reissued a “neutral” rating on shares of Frontline in a report on Tuesday, September 5th. BidaskClub upgraded Frontline from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. ValuEngine downgraded Frontline from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Evercore ISI downgraded Frontline from an “in-line” rating to an “underperform” rating and cut their price objective for the stock from $6.00 to $4.00 in a report on Friday, July 21st. Finally, Zacks Investment Research downgraded Frontline from a “hold” rating to a “sell” rating in a report on Wednesday, May 31st. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.00.
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Shares of Frontline Ltd. (NYSE FRO) traded up 0.18% during midday trading on Friday, hitting $5.59. The company had a trading volume of 320,799 shares. The firm’s 50-day moving average is $5.44 and its 200-day moving average is $6.08. Frontline Ltd. has a 12-month low of $4.87 and a 12-month high of $8.05. The firm has a market capitalization of $949.23 million, a P/E ratio of 29.11 and a beta of 2.04.
Frontline (NYSE:FRO) last posted its quarterly earnings data on Wednesday, August 30th. The shipping company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.05). The business had revenue of $89.99 million for the quarter, compared to the consensus estimate of $86.55 million. Frontline had a net margin of 4.74% and a return on equity of 4.41%. On average, analysts predict that Frontline Ltd. will post ($0.05) earnings per share for the current fiscal year.
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