Toro (NASDAQ:TORO) CEO Petros Panagiotis Panagiotidis Acquires 1,982,728 Shares

Key Points

• CEO Petros Panagiotis Panagiotidis bought 1,982,728 shares on April 22 at an average of $6.08 (≈$12.05M), raising his direct stake to 20,488,963 shares—a 10.71% increase—and also added 265,836 (Apr 23) and 67,407 (Apr 24) additional shares.
• Toro declared a $0.90 dividend payable June 5 (record/ex-dividend date May 4); the stock recently traded at $6.90 with a market cap of about $148.1M while analysts’ consensus rating remains “Sell.”

Toro Corp. (NASDAQ:TORO - Get Free Report) CEO Petros Panagiotis Panagiotidis bought 1,982,728 shares of the company's stock in a transaction on Wednesday, April 22nd. The shares were acquired at an average price of $6.08 per share, with a total value of $12,054,986.24. Following the transaction, the chief executive officer directly owned 20,488,963 shares of the company's stock, valued at approximately $124,572,895.04. This trade represents a 10.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Petros Panagiotis Panagiotidis also recently made the following trade(s):

• On Friday, April 24th, Petros Panagiotis Panagiotidis bought 67,407 shares of Toro stock. The shares were acquired at an average price of $6.79 per share, with a total value of $457,693.53.
• On Thursday, April 23rd, Petros Panagiotis Panagiotidis bought 265,836 shares of Toro stock. The shares were acquired at an average price of $6.52 per share, with a total value of $1,733,250.72.

Toro Price Performance

Shares of NASDAQ:TORO traded up $0.23 during trading hours on Friday, hitting $6.90. 409,879 shares of the company's stock traded hands, compared to its average volume of 363,524. The firm has a market capitalization of $148.14 million, a P/E ratio of 86.26 and a beta of 1.21. The business has a fifty day moving average price of $3.93 and a 200-day moving average price of $4.24. Toro Corp. has a 1 year low of $1.77 and a 1 year high of $7.70.

Toro Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, June 5th. Investors of record on Monday, May 4th will be issued a $0.90 dividend. The ex-dividend date is Monday, May 4th.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of Toro in a report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of "Sell".

Institutional Trading of Toro

A number of hedge funds have recently bought and sold shares of TORO. Group One Trading LLC purchased a new stake in Toro during the third quarter worth $70,000. Citadel Advisors LLC purchased a new stake in Toro during the third quarter worth $79,000. Founders Capital Management lifted its holdings in Toro by 28.6% during the fourth quarter. Founders Capital Management now owns 9,000 shares of the company's stock worth $48,000 after buying an additional 2,000 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Toro by 19.2% during the fourth quarter. Renaissance Technologies LLC now owns 186,700 shares of the company's stock worth $986,000 after buying an additional 30,100 shares during the period. Hedge funds and other institutional investors own 1.74% of the company's stock.

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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