Paloma Partners Management Co Acquires Shares of 27,672 Frank’s International (NYSE:FI)


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Paloma Partners Management Co acquired a new stake in Frank’s International (NYSE:FI) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 27,672 shares of the pipeline company’s stock, valued at approximately $76,000.

Other hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas purchased a new position in shares of Frank’s International during the fourth quarter valued at approximately $28,000. ProShare Advisors LLC increased its stake in shares of Frank’s International by 80.7% during the fourth quarter. ProShare Advisors LLC now owns 34,327 shares of the pipeline company’s stock valued at $94,000 after buying an additional 15,330 shares during the period. Citigroup Inc. increased its stake in shares of Frank’s International by 185.1% during the fourth quarter. Citigroup Inc. now owns 35,489 shares of the pipeline company’s stock valued at $97,000 after buying an additional 23,040 shares during the period. AQR Capital Management LLC increased its stake in shares of Frank’s International by 89.5% during the third quarter. AQR Capital Management LLC now owns 100,368 shares of the pipeline company’s stock valued at $155,000 after buying an additional 47,413 shares during the period. Finally, CWM Advisors LLC increased its stake in shares of Frank’s International by 10.2% during the fourth quarter. CWM Advisors LLC now owns 76,260 shares of the pipeline company’s stock valued at $209,000 after buying an additional 7,032 shares during the period. Hedge funds and other institutional investors own 49.45% of the company’s stock.

FI has been the topic of several research analyst reports. Barclays raised Frank’s International from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $3.50 to $4.50 in a research note on Monday, March 22nd. Zacks Investment Research raised Frank’s International from a “hold” rating to a “buy” rating and set a $4.25 price target on the stock in a research note on Monday, March 29th.

Shares of FI stock opened at $3.60 on Thursday. The stock has a market cap of $815.68 million, a price-to-earnings ratio of -2.57 and a beta of 1.51. The business’s fifty day moving average is $4.11 and its 200 day moving average is $2.84. Frank’s International has a twelve month low of $1.49 and a twelve month high of $5.44.

Frank’s International (NYSE:FI) last issued its quarterly earnings results on Tuesday, February 23rd. The pipeline company reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.07. The company had revenue of $96.30 million for the quarter, compared to analysts’ expectations of $88.20 million. Frank’s International had a negative return on equity of 10.38% and a negative net margin of 72.93%. The firm’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) earnings per share. As a group, equities research analysts predict that Frank’s International will post -0.36 earnings per share for the current year.

About Frank’s International

Frank's International N.V., together with its subsidiaries, provides various engineered tubular services for the oil and gas exploration and production, and oilfield services companies in the United States, Europe, the Middle East, Africa, Latin America, the Asia Pacific, and internationally. It operates through three segments: Tubular Running Services, Tubulars, and Cementing Equipment.

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Institutional Ownership by Quarter for Frank`s International (NYSE:FI)

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