Toro (NASDAQ:TORO) CEO Petros Panagiotis Panagiotidis Buys 67,407 Shares

Key Points

• CEO Petros Panagiotis Panagiotidis bought a total of 2,315,971 Toro shares across April 22–24 (67,407 on April 24), spending about $14.25 million and bringing his direct stake to 20,822,206 shares (a 0.32% increase) valued at roughly $141.38 million.
• The company declared a $0.90 dividend payable June 5 to shareholders of record on May 4 (ex-dividend date May 4).
• Toro shares traded around $6.90 with a market cap of $148.14 million and a P/E of 86.26, and the stock carries a consensus "Sell" rating (Weiss Ratings reissued a sell).

Toro Corp. (NASDAQ:TORO - Get Free Report) CEO Petros Panagiotis Panagiotidis purchased 67,407 shares of the firm's stock in a transaction on Friday, April 24th. The stock was bought at an average cost of $6.79 per share, with a total value of $457,693.53. Following the completion of the acquisition, the chief executive officer directly owned 20,822,206 shares of the company's stock, valued at $141,382,778.74. This trade represents a 0.32% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, April 23rd, Petros Panagiotis Panagiotidis purchased 265,836 shares of Toro stock. The stock was bought at an average cost of $6.52 per share, with a total value of $1,733,250.72.
• On Wednesday, April 22nd, Petros Panagiotis Panagiotidis bought 1,982,728 shares of Toro stock. The shares were acquired at an average cost of $6.08 per share, with a total value of $12,054,986.24.

Toro Stock Performance

Shares of TORO traded up $0.23 during trading hours on Friday, hitting $6.90. 409,879 shares of the stock were exchanged, compared to its average volume of 363,524. Toro Corp. has a 12-month low of $1.77 and a 12-month high of $7.70. The company has a market cap of $148.14 million, a price-to-earnings ratio of 86.26 and a beta of 1.21. The stock's 50-day moving average price is $3.93 and its two-hundred day moving average price is $4.24.

Toro Cuts Dividend

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

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of Toro in a research note on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of "Sell".

Institutional Investors Weigh In On Toro

Several institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC lifted its position in shares of Toro by 19.2% during the 4th quarter. Renaissance Technologies LLC now owns 186,700 shares of the company's stock worth $986,000 after purchasing an additional 30,100 shares during the last quarter. Citadel Advisors LLC purchased a new position in Toro in the third quarter valued at $79,000. Group One Trading LLC purchased a new position in Toro in the third quarter valued at $70,000. Finally, Founders Capital Management increased its holdings in Toro by 28.6% in the fourth quarter. Founders Capital Management now owns 9,000 shares of the company's stock valued at $48,000 after buying an additional 2,000 shares during the last quarter. 1.74% of the stock is owned by hedge funds and other institutional investors.

Toro Company 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.

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.