Northern Trust Corp Purchases 1,192,899 Shares of Frontline Ltd. (FRO)
Northern Trust Corp increased its position in Frontline Ltd. (NYSE:FRO) by 197.8% in 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 quarter. Northern Trust Corp owned 1.06% of Frontline worth $10,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its position in Frontline by 3.8% in the 1st quarter. Legal & General Group Plc now owns 16,056 shares of the shipping company’s stock worth $108,000 after buying an additional 581 shares during the last quarter. Aperio Group LLC bought a new stake in Frontline in the 2nd quarter worth approximately $124,000. KCG Holdings Inc. increased its stake in Frontline by 40.3% in the 1st 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. Parametric Portfolio Associates LLC increased its stake in Frontline by 72.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 26,537 shares of the shipping company’s stock worth $179,000 after purchasing an additional 11,133 shares during the period. Finally, Nisa Investment Advisors LLC purchased a new position in Frontline in the 2nd quarter worth approximately $182,000. Institutional investors own 12.05% of the company’s stock.
A number of brokerages have commented on FRO. Evercore ISI cut Frontline from an “in-line” rating to an “underperform” rating and decreased their price target for the stock from $6.00 to $4.00 in a research note on Friday, July 21st. BidaskClub raised Frontline from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Zacks Investment Research cut Frontline from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. ValuEngine cut Frontline from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Credit Suisse Group reaffirmed a “neutral” rating on shares of Frontline in a research note on Tuesday, September 5th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $6.00.
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Frontline Ltd. (NYSE FRO) opened at $6.27 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.66 and a quick ratio of 1.66. Frontline Ltd. has a 12 month low of $4.87 and a 12 month high of $8.05. The company has a market capitalization of $1,074.89, a P/E ratio of 15.44 and a beta of 1.94.
Frontline (NYSE:FRO) last posted its earnings results 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). 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 analysts’ expectations of $86.55 million. equities analysts predict that Frontline Ltd. will post -0.03 earnings per share for the current fiscal year.
Frontline Company Profile
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