DekaBank Deutsche Girozentrale purchased a new position in shares of Frontline Ltd. (NYSE:FRO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 181,354 shares of the shipping company’s stock, valued at approximately $1,016,000. DekaBank Deutsche Girozentrale owned about 0.11% of Frontline at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Mackenzie Financial Corp acquired a new stake in Frontline during the first quarter worth approximately $101,000. Legal & General Group Plc boosted its stake in Frontline by 3.8% in the first 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Frontline by 426.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,564 shares of the shipping company’s stock worth $112,000 after buying an additional 13,420 shares in the last quarter. Aperio Group LLC acquired a new stake in Frontline during the second quarter worth approximately $124,000. Finally, KCG Holdings Inc. boosted its stake in Frontline by 40.3% in the first quarter. KCG Holdings Inc. now owns 25,073 shares of the shipping company’s stock worth $169,000 after buying an additional 7,205 shares in the last quarter. 11.57% of the stock is currently owned by institutional investors and hedge funds.

Frontline Ltd. (NYSE:FRO) opened at 5.43 on Thursday. Frontline Ltd. has a 12 month low of $5.00 and a 12 month high of $8.39. The stock has a market cap of $922.06 million, a price-to-earnings ratio of 14.18 and a beta of 1.97. The stock’s 50 day moving average price is $5.67 and its 200-day moving average price is $6.23.

Frontline (NYSE:FRO) last announced its earnings results on Tuesday, May 30th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. The company had revenue of $121.94 million during the quarter, compared to analysts’ expectations of $103.70 million. Frontline had a net margin of 9.25% and a return on equity of 8.76%. Equities analysts expect that Frontline Ltd. will post $0.05 EPS for the current year.

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A number of equities research analysts have commented on the company. BidaskClub cut Frontline from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. ValuEngine cut Frontline from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Zacks Investment Research cut Frontline from a “hold” rating to a “sell” rating in a report on Wednesday, May 31st. Credit Suisse Group decreased their price target on Frontline from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, May 31st. Finally, Evercore ISI cut Frontline from an “in-line” rating to an “underperform” rating and decreased their price target for the company from $6.00 to $4.00 in a report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $6.25.

Frontline Company Profile

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Institutional Ownership by Quarter for Frontline (NYSE:FRO)

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