40,774 Shares in Frontline PLC $FRO Purchased by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP initiated a position in Frontline by purchasing 40,774 shares valued at approximately $1.42 million. Institutional investors and hedge funds collectively own 22.7% of the company.
• Analyst sentiment is mixed: four analysts rate Frontline Buy, four Hold, and two Sell, resulting in a consensus rating of Hold and an average price target of $41.62.
• Frontline shares opened at $43.38 after declining 1.5%, near their 52-week high of $45.17. The tanker operator has a market capitalization of approximately $9.66 billion and a price-to-earnings ratio of 10.69.

Quantbot Technologies LP purchased a new position in shares of Frontline PLC (NYSE:FRO - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 40,774 shares of the shipping company's stock, valued at approximately $1,419,000.

Several other institutional investors also recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Frontline during the 4th quarter worth approximately $25,000. Assetmark Inc. grew its stake in Frontline by 278.6% in the 1st quarter. Assetmark Inc. now owns 973 shares of the shipping company's stock valued at $34,000 after acquiring an additional 716 shares during the period. Sunbelt Securities Inc. acquired a new stake in Frontline in the 3rd quarter valued at $41,000. Parallel Advisors LLC increased its holdings in Frontline by 58.9% in the 1st quarter. Parallel Advisors LLC now owns 1,311 shares of the shipping company's stock worth $46,000 after acquiring an additional 486 shares in the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in Frontline in the 2nd quarter worth $48,000. 22.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FRO shares. Pareto Securities downgraded shares of Frontline from a "buy" rating to a "hold" rating and set a $39.46 price objective on the stock. in a report on Monday, May 25th. Wall Street Zen cut shares of Frontline from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 15th. BTIG Research upped their price target on shares of Frontline from $45.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, June 24th. Danske lowered shares of Frontline from a "hold" rating to a "sell" rating in a research note on Friday. Finally, Weiss Ratings cut Frontline from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, August 12th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $41.62.

Frontline Trading Down 1.5%

Shares of FRO opened at $43.38 on Wednesday. Frontline PLC has a 52-week low of $19.87 and a 52-week high of $45.17. The stock has a market cap of $9.66 billion, a PE ratio of 10.69 and a beta of 0.02. The firm's fifty day moving average is $39.14 and its two-hundred day moving average is $36.52. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.83.

Frontline Profile

Frontline Ltd. NYSE: FRO is a leading global shipping company specializing in the seaborne transportation of crude oil and petroleum products. The company's core business activities encompass the ownership and operation of very large crude carriers (VLCCs), Suezmax tankers and Aframax vessels. Through long-term charters, spot market operations and time charters, Frontline provides flexible shipping solutions that cater to a diverse set of energy producers, refiners and trading houses worldwide.

Frontline's fleet is geared toward high-capacity, ocean-going tankers capable of carrying large volumes of crude oil over intercontinental distances.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.