Renaissance Technologies LLC grew its holdings in shares of Frontline Ltd (NYSE:FRO) by 55.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,865,252 shares of the shipping company’s stock after purchasing an additional 668,023 shares during the period. Renaissance Technologies LLC owned 1.10% of Frontline worth $14,971,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the business. LPL Financial LLC acquired a new stake in shares of Frontline during the second quarter worth $128,000. Trexquant Investment LP raised its holdings in shares of Frontline by 78.4% during the second quarter. Trexquant Investment LP now owns 38,058 shares of the shipping company’s stock worth $304,000 after purchasing an additional 16,729 shares during the period. Bank of Montreal Can raised its holdings in shares of Frontline by 24.7% during the second quarter. Bank of Montreal Can now owns 10,048 shares of the shipping company’s stock worth $80,000 after purchasing an additional 1,993 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Frontline during the second quarter worth $150,000. Finally, Teza Capital Management LLC acquired a new stake in shares of Frontline during the second quarter worth $99,000. 20.68% of the stock is currently owned by institutional investors.
A number of analysts have weighed in on the stock. BTIG Research raised shares of Frontline from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Thursday, September 12th. Jefferies Financial Group set a $8.00 target price on shares of Frontline and gave the stock a “hold” rating in a report on Friday, July 5th. ValuEngine cut shares of Frontline from a “hold” rating to a “sell” rating in a report on Thursday, September 5th. Nordea Equity Research raised shares of Frontline from a “sell” rating to a “buy” rating in a report on Wednesday, August 28th. Finally, Zacks Investment Research raised shares of Frontline from a “hold” rating to a “strong-buy” rating and set a $10.00 target price on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Frontline has a consensus rating of “Buy” and an average target price of $8.26.
Shares of Frontline stock traded up $0.14 during trading on Thursday, hitting $8.99. 15,047 shares of the stock were exchanged, compared to its average volume of 732,572. The stock’s fifty day moving average is $7.90 and its 200 day moving average is $7.74. The stock has a market cap of $1.53 billion, a PE ratio of -64.86, a P/E/G ratio of 3.53 and a beta of 1.04. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.23 and a current ratio of 1.23. Frontline Ltd has a 12 month low of $4.82 and a 12 month high of $9.57.
Frontline (NYSE:FRO) last released its quarterly earnings results on Tuesday, August 27th. The shipping company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. The business had revenue of $102.74 million during the quarter, compared to analyst estimates of $102.98 million. Frontline had a net margin of 8.21% and a return on equity of 5.73%. During the same quarter in the prior year, the firm earned ($0.16) earnings per share. Sell-side analysts anticipate that Frontline Ltd will post 0.51 EPS for the current fiscal year.
Frontline Company Profile
Frontline Ltd., a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. It owns and operates oil and product tankers. As of December 31, 2018, the company's fleet consisted of 61 vessels, which included very large crude carrier, Suezmax, and LR2/Aframax tankers with an aggregate capacity of approximately 11.6 million deadweight ton.
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