Diamond Hill Capital Management LLC Investment Advisor Acquires Shares of 243,491 Toro Corp. $TORO

Key Points

• Diamond Hill Capital Management acquired 243,491 Toro shares worth approximately $23.7 million, giving it a 1.13% stake. Several other institutional investors also initiated positions during the second quarter.
• Toro shares opened at $5.65, with a market capitalization of about $121.3 million and a 52-week range of $2.64 to $8.50. The company reported quarterly revenue of $5.96 million and a loss of $0.02 per share.
• Analyst sentiment remains cautious: Toro has an average rating of “Hold”, with one firm recently lowering its rating while another upgraded the stock to Hold.

Diamond Hill Capital Management LLC Investment Advisor bought a new position in Toro Corp. (NASDAQ:TORO - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 243,491 shares of the company's stock, valued at approximately $23,721,000. Diamond Hill Capital Management LLC Investment Advisor owned 1.13% of Toro at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new position in shares of Toro during the second quarter valued at about $94,442,000. Focus Partners Advisor Solutions LLC purchased a new stake in Toro in the second quarter worth about $1,445,000. State of Wyoming purchased a new stake in Toro in the second quarter worth about $1,813,000. GSA Capital Partners LLP bought a new stake in Toro during the 2nd quarter valued at approximately $1,605,000. Finally, Renaissance Technologies LLC boosted its position in Toro by 19.2% during the 4th quarter. Renaissance Technologies LLC now owns 186,700 shares of the company's stock valued at $986,000 after acquiring an additional 30,100 shares in the last quarter. 1.74% of the stock is owned by hedge funds and other institutional investors.

Toro Price Performance

Shares of NASDAQ TORO opened at $5.65 on Monday. Toro Corp. has a 1 year low of $2.64 and a 1 year high of $8.50. The stock has a market cap of $121.31 million, a P/E ratio of 141.29 and a beta of 2.53. The firm has a 50-day moving average of $5.12 and a 200 day moving average of $4.65.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on TORO. 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 report on Saturday, June 20th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently 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.

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