Virtu Financial LLC lifted its stake in Frontline Ltd. (NYSE:FRO) by 299.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,969 shares of the shipping company’s stock after acquiring an additional 38,205 shares during the period. Virtu Financial LLC’s holdings in Frontline were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Voya Investment Management LLC lifted its stake in shares of Frontline by 24.4% in the 2nd quarter. Voya Investment Management LLC now owns 32,821 shares of the shipping company’s stock worth $188,000 after acquiring an additional 6,432 shares during the period. Legal & General Group Plc lifted its stake in shares of Frontline by 110.6% in the 3rd quarter. Legal & General Group Plc now owns 33,815 shares of the shipping company’s stock worth $204,000 after acquiring an additional 17,759 shares during the period. Engineers Gate Manager LP lifted its stake in shares of Frontline by 243.2% in the 3rd quarter. Engineers Gate Manager LP now owns 36,664 shares of the shipping company’s stock worth $221,000 after acquiring an additional 25,981 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Frontline in the 3rd quarter worth approximately $244,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Frontline by 17.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 59,870 shares of the shipping company’s stock worth $343,000 after acquiring an additional 8,958 shares during the period. 14.41% of the stock is owned by institutional investors.
FRO has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Frontline from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Seaport Global Securities set a $7.00 price target on shares of Frontline and gave the stock a “buy” rating in a research note on Thursday, January 4th. DNB Markets raised shares of Frontline from a “hold” rating to a “buy” rating in a research note on Tuesday, March 6th. Finally, ValuEngine lowered shares of Frontline from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Four research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. Frontline has a consensus rating of “Hold” and a consensus target price of $5.67.
Shares of Frontline stock opened at $4.44 on Monday. Frontline Ltd. has a one year low of $3.79 and a one year high of $7.15. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.45 and a quick ratio of 1.47.
Frontline (NYSE:FRO) last released its earnings results on Wednesday, February 28th. The shipping company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.11. Frontline had a negative net margin of 40.98% and a negative return on equity of 0.31%. The business had revenue of $99.20 million during the quarter, compared to analyst estimates of $88.40 million. equities research analysts forecast that Frontline Ltd. will post -0.34 earnings per share for the current fiscal year.
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Frontline Company Profile
Frontline Ltd. is a shipping company. The Company is engaged in the seaborne transportation of crude oil and oil products. Its tankers segment includes crude oil tankers and product tankers. As of December 31, 2016, the Company’s fleet consisted of 28 vessels owned by the Company (seven very large crude carriers (VLCCs), 10 Suezmax tankers and 11 Aframax/LR2 tankers); 13 vessels that are under capital leases (11 VLCCs and two Suezmax tankers); one VLCC that is recorded as an investment in finance lease; four vessels chartered-in for periods of 12 months, including extension options (two VLCCs and two Suezmax tankers); two VLCCs where cost/revenue is split equally with a third party (of which one is chartered-in by it and one by a third party); three medium range product tankers that are chartered-in on short term time charters with a remaining duration of less than two months, and five vessels that are under commercial management (two Suezmax tankers and three Aframax oil tankers).
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