The Manufacturers Life Insurance Company Makes New Investment in Toro Corp. $TORO

Key Points

• The Manufacturers Life Insurance Company acquired 389,766 Toro shares worth approximately $37.97 million, representing a 1.82% stake at the end of the second quarter.
• Analyst sentiment remains neutral: Toro holds a consensus “Hold” rating, with Weiss Ratings downgrading the stock’s outlook from “hold (c)” to “hold (c-).”
• Toro shares opened at $6.16, while the company recently reported a quarterly loss of $0.02 per share on $5.96 million in revenue; its market capitalization was approximately $132.26 million.

The Manufacturers Life Insurance Company bought a new position in shares of Toro Corp. (NASDAQ:TORO - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 389,766 shares of the company's stock, valued at approximately $37,971,000. The Manufacturers Life Insurance Company owned 1.82% of Toro at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Group One Trading LLC acquired a new position in Toro during the third quarter valued at approximately $70,000. Citadel Advisors LLC acquired a new stake in Toro in the third quarter worth $79,000. Alpine Woods Capital Investors LLC acquired a new stake in Toro in the second quarter worth $235,000. Perigon Wealth Management LLC bought a new position in shares of Toro during the second quarter worth $271,000. Finally, Citizens Financial Group Inc. RI bought a new position in shares of Toro during the second quarter worth $308,000. 1.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Weiss Ratings cut shares of 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 report on Saturday, June 20th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold".

Toro Stock Down 1.3%

Shares of TORO stock opened at $6.16 on Thursday. Toro Corp. has a 12-month low of $2.64 and a 12-month high of $8.50. The firm has a fifty day moving average of $5.26 and a 200-day moving average of $4.78. The company has a market capitalization of $132.26 million, a price-to-earnings ratio of 154.04 and a beta of 2.53.

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. The company 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%.

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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