Freestone Grove Partners LP Acquires Shares of 89,734 Toro Corp. $TORO

Freestone Grove Partners LP bought a new position in Toro Corp. (NASDAQ:TORO) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 89,734 shares of the company’s stock, valued at approximately $8,742,000. Freestone Grove Partners LP owned approximately 0.42% of Toro at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Toro during the second quarter valued at approximately $874,436,000. Bank of New York Mellon Corp bought a new position in Toro in the second quarter worth approximately $94,442,000. The Manufacturers Life Insurance Company bought a new position in Toro in the second quarter worth approximately $37,971,000. Caisse de depot et placement du Quebec purchased a new position in Toro during the 2nd quarter worth $37,387,000. Finally, Man Group plc purchased a new position in Toro during the 2nd quarter worth $25,173,000. 1.74% of the stock is owned by hedge funds and other institutional investors.

Toro Stock Performance

NASDAQ:TORO opened at $6.23 on Friday. The firm has a 50-day simple moving average of $5.31 and a 200-day simple moving average of $4.81. Toro Corp. has a one year low of $2.64 and a one year high of $8.50. The firm has a market cap of $133.76 million, a P/E ratio of 155.79 and a beta of 2.53.

Toro (NASDAQ:TORO) last released its quarterly earnings data on Thursday, May 28th. The company reported ($0.02) earnings per share (EPS) for the quarter. The business had revenue of $5.96 million for the quarter. Toro had a net margin of 22.67% and a return on equity of 2.49%.

Analyst Upgrades and Downgrades

TORO has been the subject of a number of research analyst reports. Weiss Ratings lowered Toro from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, July 30th. Wall Street Zen upgraded Toro to a “hold” rating in a research note on Saturday, June 20th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

About Toro

Toro Corp., a shipping company, acquires, owns, charters, and operates oceangoing tanker vessels and provides seaborne transportation services for crude oil LPG, and refined petroleum products worldwide. The company operates in three segments: Aframax/LR2 Tanker, Handysize Tanker, and LPG Carrier. As of December 31, 2023, it operated a fleet of one Handysize tanker vessel; one Aframax/LR2 vessel; and four LPG carrier vessels with an aggregate cargo carrying capacity of 0.1 million deadweight ton.