Jump Financial LLC Acquires Shares of 19,100 Frontline plc (NYSE:FRO)

Jump Financial LLC acquired a new stake in shares of Frontline plc (NYSE:FRO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 19,100 shares of the shipping company's stock, valued at approximately $271,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Frontline by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 5,493,085 shares of the shipping company's stock worth $75,502,000 after purchasing an additional 51,073 shares during the period. Cooper Creek Partners Management LLC bought a new stake in shares of Frontline in the 4th quarter worth about $41,447,000. Renaissance Technologies LLC increased its holdings in Frontline by 27.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,378,037 shares of the shipping company's stock valued at $19,554,000 after buying an additional 297,437 shares during the last quarter. Hartree Partners LP grew its position in shares of Frontline by 482.6% in the 4th quarter. Hartree Partners LP now owns 1,061,000 shares of the shipping company's stock worth $15,047,000 after acquiring an additional 878,885 shares in the last quarter. Finally, Barclays PLC increased its stake in Frontline by 135.5% during the fourth quarter. Barclays PLC now owns 487,597 shares of the shipping company's stock valued at $6,921,000 after purchasing an additional 280,588 shares during the last quarter. 22.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FRO shares. Evercore ISI reduced their price target on shares of Frontline from $22.00 to $20.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Kepler Capital Markets set a $12.49 price target on Frontline in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $20.62.

Frontline Trading Down 0.3 %

Shares of Frontline stock traded down $0.06 during trading on Thursday, hitting $16.76. The stock had a trading volume of 1,526,626 shares, compared to its average volume of 2,387,710. Frontline plc has a 1 year low of $12.40 and a 1 year high of $29.39. The stock has a 50 day simple moving average of $15.44 and a 200 day simple moving average of $16.73. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $3.73 billion, a PE ratio of 6.84 and a beta of 0.20.

Frontline (NYSE:FRO - Get Free Report) last posted its quarterly earnings data on Friday, February 28th. The shipping company reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. The firm had revenue of $425.60 million for the quarter, compared to analysts' expectations of $273.16 million. Frontline had a net margin of 25.64% and a return on equity of 19.25%. The company's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 EPS. On average, research analysts expect that Frontline plc will post 1.78 EPS for the current fiscal year.

Frontline Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.77%. The ex-dividend date was Friday, March 14th. Frontline's payout ratio is 36.04%.

Frontline Company 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.