21,007 Shares in Frontline PLC $FRO Bought by Manatuck Hill Partners LLC

Manatuck Hill Partners LLC acquired a new stake in shares of Frontline PLC (NYSE:FRO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,007 shares of the shipping company’s stock, valued at approximately $731,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FRO. Vanguard Group Inc. raised its holdings in shares of Frontline by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 5,903,785 shares of the shipping company’s stock valued at $129,966,000 after acquiring an additional 63,432 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Frontline by 4,659.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 5,783,681 shares of the shipping company’s stock valued at $202,080,000 after purchasing an additional 5,662,172 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in Frontline by 44.0% in the third quarter. Balyasny Asset Management L.P. now owns 2,247,120 shares of the shipping company’s stock valued at $51,212,000 after purchasing an additional 686,212 shares in the last quarter. BlackRock Inc. bought a new stake in Frontline during the second quarter valued at approximately $50,846,000. Finally, UBS Group AG lifted its position in Frontline by 18.2% during the fourth quarter. UBS Group AG now owns 1,411,265 shares of the shipping company’s stock valued at $30,794,000 after purchasing an additional 217,760 shares during the last quarter. 22.70% of the stock is currently owned by hedge funds and other institutional investors.

Frontline Stock Down 1.5%

Shares of NYSE FRO opened at $43.38 on Wednesday. Frontline PLC has a one year low of $19.87 and a one year high of $45.17. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.03 and a quick ratio of 2.03. The firm’s 50 day simple moving average is $39.14 and its two-hundred day simple moving average is $36.52. The stock has a market capitalization of $9.66 billion, a P/E ratio of 10.69 and a beta of 0.02.

Analyst Ratings Changes

A number of equities analysts have recently commented on FRO shares. Weiss Ratings lowered shares of Frontline from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, August 12th. Danske downgraded shares of Frontline from a “hold” rating to a “sell” rating in a report on Friday. DZ Bank lowered shares of Frontline from a “hold” rating to a “sell” rating in a research report on Friday, August 21st. BTIG Research increased their target price on Frontline from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Finally, Pareto Securities downgraded Frontline from a “buy” rating to a “hold” rating and set a $39.46 price target on the stock. in a research report on Monday, May 25th. 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 stock. According to MarketBeat, Frontline has a consensus rating of “Hold” and a consensus price target of $41.62.

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.