Bank of America Corp DE Takes Position in Toro Corp. $TORO

Key Points

• Bank of America acquired 370,517 Toro shares worth approximately $36.1 million, representing about 1.73% of the company. Several other institutional investors also initiated positions during the second quarter.
• Toro shares opened at $5.90, with a market capitalization of roughly $126.7 million and a 52-week trading range of $2.95 to $8.50. Institutional investors and hedge funds collectively own about 1.74% of the stock.
• Analyst sentiment remains neutral: Toro has an average “Hold” rating, while the company continues operating oceangoing vessels transporting crude oil, refined petroleum products, and dry bulk commodities.

Bank of America Corp DE bought a new position in shares of Toro Corp. (NASDAQ:TORO - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 370,517 shares of the company's stock, valued at approximately $36,096,000. Bank of America Corp DE owned approximately 1.73% of Toro as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Polar Asset Management Partners Inc. bought a new position in Toro in the second quarter valued at approximately $203,000. Alpine Woods Capital Investors LLC bought a new stake in shares of Toro during the 2nd quarter worth approximately $235,000. Perigon Wealth Management LLC acquired a new stake in shares of Toro in the 2nd quarter valued at approximately $271,000. Citizens Financial Group Inc. RI bought a new position in shares of Toro in the second quarter valued at $308,000. Finally, Evolve Private Wealth LLC acquired a new position in Toro during the second quarter worth $406,000. 1.74% of the stock is owned by institutional investors and hedge funds.

Toro Stock Performance

NASDAQ TORO opened at $5.90 on Tuesday. The stock has a market cap of $126.67 million, a PE ratio of 147.54 and a beta of 2.55. The firm has a 50-day moving average of $5.74 and a 200-day moving average of $5.11. Toro Corp. has a 52-week low of $2.95 and a 52-week high of $8.50.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Toro to a "hold" rating in a research note on Saturday, June 20th. Weiss Ratings lowered Toro from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Toro currently has an average rating of "Hold".

Toro Profile

Toro Corp. is a maritime transportation company focused on the ownership and operation of oceangoing vessels. Its activities have centered primarily on the transportation of crude oil and refined petroleum products, as well as dry bulk commodities, serving customers through the international shipping markets.

The company has operated vessels under a combination of time-charter and voyage-charter arrangements. Its fleet has included tanker and dry bulk vessels, with operations spanning major international trade routes and ports.

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