Frontline Ltd (NYSE:FRO) was the target of unusually large options trading activity on Wednesday. Stock traders acquired 1,560 call options on the company. This is an increase of 1,926% compared to the typical daily volume of 77 call options.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Evermore Global Advisors LLC increased its holdings in shares of Frontline by 6.5% during the 1st quarter. Evermore Global Advisors LLC now owns 5,589,522 shares of the shipping company’s stock worth $24,762,000 after buying an additional 343,505 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Frontline by 1.7% during the 4th quarter. BlackRock Inc. now owns 3,491,445 shares of the shipping company’s stock worth $16,025,000 after buying an additional 59,885 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Frontline by 61.5% during the 4th quarter. Renaissance Technologies LLC now owns 1,437,640 shares of the shipping company’s stock worth $6,599,000 after buying an additional 547,537 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Frontline during the 4th quarter worth approximately $2,263,000. Finally, Deutsche Bank AG increased its holdings in shares of Frontline by 145.7% during the 4th quarter. Deutsche Bank AG now owns 398,487 shares of the shipping company’s stock worth $1,828,000 after buying an additional 236,276 shares during the last quarter. Institutional investors and hedge funds own 14.46% of the company’s stock.

Shares of Frontline opened at $5.74 on Friday, according to MarketBeat. The company has a market cap of $850.71 million, a PE ratio of -191.33 and a beta of 1.72. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.45 and a quick ratio of 1.17. Frontline has a 1 year low of $3.79 and a 1 year high of $6.50.

Frontline (NYSE:FRO) last announced its quarterly earnings results on Thursday, May 31st. The shipping company reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.09. Frontline had a negative net margin of 40.98% and a negative return on equity of 0.31%. sell-side analysts expect that Frontline will post -0.53 EPS for the current fiscal year.

A number of research firms have weighed in on FRO. ValuEngine raised shares of Frontline from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research raised shares of Frontline from a “sell” rating to a “hold” rating in a research note on Friday, April 6th. Finally, DNB Markets raised shares of Frontline from a “hold” rating to a “buy” rating in a research note on Tuesday, March 6th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Frontline currently has an average rating of “Hold” and an average target price of $5.50.

Frontline Company Profile

Frontline Ltd., a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. As of December 31, 2017, the company's fleet consisted of 61 vessels, including VLCC, Suezmax, and LR2/Aframax tankers with an aggregate capacity of approximately 11.6 million deadweight ton.

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