TIAA CREF Investment Management LLC Cuts Position in Frontline Ltd (FRO)

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TIAA CREF Investment Management LLC decreased its holdings in Frontline Ltd (NYSE:FRO) by 4.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 163,367 shares of the shipping company’s stock after selling 6,740 shares during the period. TIAA CREF Investment Management LLC’s holdings in Frontline were worth $949,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Paloma Partners Management Co acquired a new stake in shares of Frontline during the third quarter worth approximately $106,000. Macquarie Group Ltd. acquired a new stake in shares of Frontline during the third quarter worth approximately $114,000. Trexquant Investment LP acquired a new stake in shares of Frontline during the third quarter worth approximately $129,000. Panagora Asset Management Inc. grew its position in shares of Frontline by 38,407.0% during the third quarter. Panagora Asset Management Inc. now owns 38,507 shares of the shipping company’s stock worth $224,000 after buying an additional 38,407 shares in the last quarter. Finally, Man Group plc acquired a new stake in shares of Frontline during the third quarter worth approximately $385,000. Hedge funds and other institutional investors own 16.28% of the company’s stock.

A number of analysts have recently weighed in on FRO shares. DNB Markets raised shares of Frontline from a “hold” rating to a “buy” rating in a research report on Tuesday. Danske raised shares of Frontline from a “sell” rating to a “buy” rating in a research report on Thursday, November 15th. Zacks Investment Research raised shares of Frontline from a “hold” rating to a “buy” rating and set a $6.75 price target for the company in a research report on Tuesday, January 8th. Deutsche Bank raised their price target on shares of Frontline from $6.00 to $7.00 and gave the stock a “hold” rating in a research report on Tuesday, December 4th. Finally, ValuEngine raised shares of Frontline from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $6.43.

Frontline stock traded up $0.46 during mid-day trading on Tuesday, reaching $5.49. The company’s stock had a trading volume of 242,449 shares, compared to its average volume of 374,404. The company has a market cap of $832.02 million, a PE ratio of -183.00 and a beta of 0.95. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.32 and a quick ratio of 1.32. Frontline Ltd has a twelve month low of $3.80 and a twelve month high of $8.33.

Frontline (NYSE:FRO) last released its quarterly earnings data on Friday, November 16th. The shipping company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. The firm had revenue of $89.21 million during the quarter, compared to the consensus estimate of $79.90 million. Frontline had a negative net margin of 40.17% and a negative return on equity of 3.87%. During the same quarter in the previous year, the company posted ($0.08) earnings per share. Equities research analysts anticipate that Frontline Ltd will post -0.12 earnings per share for the current year.

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Frontline Company Profile

Frontline Ltd. is an international shipping company, which engages in the ownership and operation of oil and product tankers. It also offers the seaborne transportation of crude oil and oil products. The company was founded in 1985 and is headquartered in Hamilton, Bermuda.

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Institutional Ownership by Quarter for Frontline (NYSE:FRO)

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