Corient Private Wealth LP Makes New Investment in Toro Corp. $TORO

Key Points

• Corient Private Wealth LP acquired 180,841 Toro shares worth approximately $17.6 million, representing about 0.84% of the company. Several other institutional investors also initiated positions, though institutional ownership remains low at 1.74%.
• Analyst sentiment is cautious: Toro has an average rating of “Hold”, with one analyst maintaining that rating and recent rating changes offering no bullish upgrade.
• TORO opened at $6.23, above its 50-day and 200-day moving averages, while the company’s latest quarter reported a $0.02 per-share loss and $5.96 million in revenue.

Corient Private Wealth LP purchased a new stake in shares of Toro Corp. (NASDAQ:TORO - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 180,841 shares of the company's stock, valued at approximately $17,618,000. Corient Private Wealth LP owned about 0.84% of Toro as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Group One Trading LLC purchased a new position in shares of Toro in the 3rd quarter worth approximately $70,000. Citadel Advisors LLC bought a new position in shares of Toro during the 3rd quarter worth approximately $79,000. Polar Asset Management Partners Inc. purchased a new stake in Toro during the second quarter valued at approximately $203,000. Alpine Woods Capital Investors LLC purchased a new stake in Toro during the second quarter valued at approximately $235,000. Finally, Perigon Wealth Management LLC purchased a new stake in Toro during the second quarter valued at approximately $271,000. 1.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Toro Price Performance

TORO stock opened at $6.23 on Friday. The firm's fifty day simple moving average is $5.31 and its 200-day simple moving average is $4.81. The company has a market capitalization of $133.76 million, a P/E ratio of 155.79 and a beta of 2.53. Toro Corp. has a 12 month low of $2.64 and a 12 month high of $8.50.

Toro (NASDAQ:TORO - Get Free Report) last issued its earnings results 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 return on equity of 2.49% and a net margin of 22.67%.

Toro 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.

Want to see what other hedge funds are holding TORO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Toro Corp. (NASDAQ:TORO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source