Jefferies Financial Group Inc. Makes New $425,000 Investment in Frontline plc (NYSE:FRO)

Jefferies Financial Group Inc. bought a new position in shares of Frontline plc (NYSE:FRO - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 30,921 shares of the shipping company's stock, valued at approximately $425,000.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC grew its stake in Frontline by 148.3% during the 4th quarter. SG Americas Securities LLC now owns 33,121 shares of the shipping company's stock valued at $470,000 after purchasing an additional 19,783 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Frontline by 84.4% during the 4th quarter. Blue Trust Inc. now owns 8,921 shares of the shipping company's stock valued at $127,000 after buying an additional 4,084 shares during the last quarter. Svenska Handelsbanken AB publ acquired a new stake in shares of Frontline during the fourth quarter worth approximately $415,000. Golden State Wealth Management LLC bought a new stake in shares of Frontline in the fourth quarter worth $84,000. Finally, Private Advisor Group LLC increased its stake in shares of Frontline by 164.0% in the fourth quarter. Private Advisor Group LLC now owns 28,053 shares of the shipping company's stock worth $398,000 after buying an additional 17,428 shares during the last quarter. Institutional investors and hedge funds own 22.70% of the company's stock.

Frontline Price Performance

Shares of FRO traded up $0.22 during trading hours on Wednesday, hitting $18.07. 1,732,571 shares of the company were exchanged, compared to its average volume of 2,505,923. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.43 and a quick ratio of 1.43. Frontline plc has a one year low of $12.40 and a one year high of $27.63. The company has a market capitalization of $4.02 billion, a PE ratio of 7.38 and a beta of 0.24. The firm has a fifty day simple moving average of $16.32 and a 200-day simple moving average of $16.32.

Frontline (NYSE:FRO - Get Free Report) last issued its earnings results on Friday, May 23rd. The shipping company reported $0.18 EPS for the quarter, meeting analysts' consensus estimates of $0.18. The firm had revenue of $427.87 million for the quarter, compared to the consensus estimate of $252.26 million. Frontline had a return on equity of 19.25% and a net margin of 25.64%. The business's quarterly revenue was down 26.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 earnings per share. As a group, sell-side analysts predict that Frontline plc will post 1.78 earnings per share for the current year.

Wall Street Analyst Weigh In

FRO has been the topic of a number of research analyst reports. Kepler Capital Markets set a $12.49 price objective on shares of Frontline in a research note on Thursday, March 27th. Evercore ISI cut their target price on shares of Frontline from $22.00 to $20.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Frontline has a consensus rating of "Moderate Buy" and a consensus target price of $20.62.

Frontline Profile

Frontline plc, 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, 2022, the company operated a fleet of 70 vessels. It is also involved in the charter, purchase, and sale of vessels. The company was founded in 1985 and is based in Limassol, Cyprus.