171,961 Shares in Toro Corp. $TORO Bought by Ieq Capital LLC

Key Points

• Ieq Capital LLC acquired 171,961 shares of Toro Corp. during the second quarter, worth approximately $16.75 million and representing about 0.8% of the company.
• Institutional ownership remains limited at 1.74%, although several hedge funds and investors—including Renaissance Technologies, GSA Capital Partners, and the State of Wyoming—recently added or initiated positions.
• Toro shares opened at $6.16, up 2.7%, but analysts maintain a consensus “Hold” rating. The company reported a quarterly loss of $0.02 per share on $5.96 million in revenue.

Ieq Capital LLC acquired a new position in shares of Toro Corp. (NASDAQ:TORO - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 171,961 shares of the company's stock, valued at approximately $16,752,000. Ieq Capital LLC owned about 0.80% of Toro as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Group One Trading LLC purchased a new position in shares of Toro during the third quarter worth about $70,000. Citadel Advisors LLC acquired a new stake in Toro during the 3rd quarter worth approximately $79,000. Renaissance Technologies LLC lifted its position in Toro by 19.2% during the 4th quarter. Renaissance Technologies LLC now owns 186,700 shares of the company's stock worth $986,000 after acquiring an additional 30,100 shares during the period. GSA Capital Partners LLP acquired a new stake in Toro during the 2nd quarter worth approximately $1,605,000. Finally, State of Wyoming purchased a new position in shares of Toro in the 2nd quarter valued at approximately $1,813,000. 1.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Weiss Ratings cut Toro from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, July 30th. Wall Street Zen upgraded shares of Toro to a "hold" rating in a research report on Saturday, June 20th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

Toro Stock Up 2.7%

Shares of NASDAQ:TORO opened at $6.16 on Friday. The company has a market cap of $132.26 million, a P/E ratio of 154.04 and a beta of 2.53. Toro Corp. has a 52 week low of $2.64 and a 52 week high of $8.50. The company has a 50-day moving average price of $5.20 and a 200 day moving average price of $4.71.

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

Toro Company Profile

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.

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