Northern Trust Corp lifted its stake in Frontline Ltd. (NYSE:FRO) by 197.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,795,843 shares of the shipping company’s stock after buying an additional 1,192,899 shares during the period. Northern Trust Corp owned approximately 1.06% of Frontline worth $10,290,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Evermore Global Advisors LLC raised its position in Frontline by 50.4% during the second quarter. Evermore Global Advisors LLC now owns 3,866,992 shares of the shipping company’s stock worth $22,158,000 after acquiring an additional 1,295,829 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Frontline in the second quarter valued at approximately $1,016,000. Cipher Capital LP raised its position in shares of Frontline by 24.9% in the second quarter. Cipher Capital LP now owns 500,614 shares of the shipping company’s stock valued at $2,868,000 after buying an additional 99,785 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Frontline by 117.8% in the second quarter. Wells Fargo & Company MN now owns 143,363 shares of the shipping company’s stock valued at $822,000 after buying an additional 77,539 shares during the last quarter. Finally, UBS Group AG raised its position in shares of Frontline by 251.9% in the first quarter. UBS Group AG now owns 52,879 shares of the shipping company’s stock valued at $357,000 after buying an additional 37,851 shares during the last quarter. 12.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of Frontline Ltd. (FRO) traded down $0.14 on Wednesday, reaching $5.72. 792,964 shares of the company were exchanged, compared to its average volume of 770,288. Frontline Ltd. has a 12-month low of $4.87 and a 12-month high of $7.83. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.07. The company has a market cap of $7,840.00, a price-to-earnings ratio of 14.22 and a beta of 1.94.
Frontline (NYSE:FRO) last posted its quarterly earnings data on Wednesday, August 30th. The shipping company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.05). Frontline had a net margin of 4.74% and a return on equity of 4.42%. The business had revenue of $89.99 million for the quarter, compared to the consensus estimate of $86.55 million. research analysts anticipate that Frontline Ltd. will post -0.03 earnings per share for the current fiscal year.
Several equities research analysts have issued reports on FRO shares. ValuEngine downgraded shares of Frontline from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Credit Suisse Group reissued a “neutral” rating on shares of Frontline in a research report on Tuesday, September 5th. Zacks Investment Research cut shares of Frontline from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. Finally, BidaskClub raised shares of Frontline from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $6.00.
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