AQR Capital Management LLC Buys 2,500 Shares of Frontline Ltd (NYSE:FRO)

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AQR Capital Management LLC lifted its holdings in Frontline Ltd (NYSE:FRO) by 8.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,246 shares of the shipping company’s stock after buying an additional 2,500 shares during the quarter. AQR Capital Management LLC’s holdings in Frontline were worth $266,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. B. Riley Wealth Management Inc. bought a new position in shares of Frontline in the first quarter valued at about $70,000. Tower Research Capital LLC TRC bought a new position in shares of Frontline in the second quarter valued at about $76,000. Bank of Montreal Can raised its holdings in shares of Frontline by 24.7% in the second quarter. Bank of Montreal Can now owns 10,048 shares of the shipping company’s stock valued at $80,000 after buying an additional 1,993 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Frontline in the second quarter valued at about $89,000. Finally, Mackenzie Financial Corp bought a new position in shares of Frontline in the second quarter valued at about $89,000. 20.68% of the stock is owned by institutional investors and hedge funds.

Shares of FRO stock opened at $11.43 on Friday. The stock has a 50-day moving average price of $9.05 and a 200 day moving average price of $8.10. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.41. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of -81.64, a PEG ratio of 4.44 and a beta of 0.92. Frontline Ltd has a 12 month low of $4.82 and a 12 month high of $11.91.

Frontline (NYSE:FRO) last announced its quarterly earnings data on Tuesday, August 27th. The shipping company reported $0.02 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.02. The firm had revenue of $102.74 million during the quarter, compared to analyst estimates of $102.98 million. Frontline had a return on equity of 5.73% and a net margin of 8.21%. During the same period last year, the company earned ($0.16) earnings per share. Sell-side analysts predict that Frontline Ltd will post 0.51 earnings per share for the current fiscal year.

FRO has been the subject of a number of research analyst reports. Nordea Equity Research raised Frontline from a “sell” rating to a “buy” rating in a report on Wednesday, August 28th. BTIG Research raised Frontline from a “neutral” rating to a “buy” rating and set a $12.00 price target for the company in a report on Thursday, September 12th. ValuEngine raised Frontline from a “strong sell” rating to a “sell” rating in a report on Tuesday. Jefferies Financial Group set a $8.00 price target on Frontline and gave the company a “hold” rating in a report on Friday, July 5th. Finally, Zacks Investment Research raised Frontline from a “hold” rating to a “strong-buy” rating and set a $10.00 price target for the company in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $8.26.

Frontline Company Profile

Frontline Ltd., 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, 2018, the company's fleet consisted of 61 vessels, which included very large crude carrier, Suezmax, and LR2/Aframax tankers with an aggregate capacity of approximately 11.6 million deadweight ton.

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Institutional Ownership by Quarter for Frontline (NYSE:FRO)

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