Toro (NASDAQ:TORO) CEO Petros Panagiotis Panagiotidis Purchases 265,836 Shares

Key Points

• CEO Petros Panagiotis Panagiotidis bought a total of 2,315,971 Toro shares between April 22–24 for about $14.25 million, increasing his reported stake to at least 20,754,799 shares (valued roughly $135.3 million after the April 23 purchase).
• TORO traded up to $6.90 (up 3.4%) on the news, with a market cap of about $148.1 million, a consensus analyst rating of Sell, only ~1.74% institutional ownership, and a declared dividend of $0.90 per share payable June 5 (ex-dividend May 4).

Toro Corp. (NASDAQ:TORO - Get Free Report) CEO Petros Panagiotis Panagiotidis purchased 265,836 shares of the firm's stock in a transaction that occurred on Thursday, April 23rd. The shares were acquired at an average cost of $6.52 per share, with a total value of $1,733,250.72. Following the completion of the purchase, the chief executive officer directly owned 20,754,799 shares in the company, valued at $135,321,289.48. The trade was a 1.30% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Friday, April 24th, Petros Panagiotis Panagiotidis purchased 67,407 shares of Toro stock. The shares were acquired at an average cost of $6.79 per share, with a total value of $457,693.53.
• On Wednesday, April 22nd, Petros Panagiotis Panagiotidis purchased 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 Trading Up 3.4%

Shares of TORO stock traded up $0.23 on Friday, reaching $6.90. 409,879 shares of the company's stock were exchanged, compared to its average volume of 363,524. Toro Corp. has a 52 week low of $1.77 and a 52 week high of $7.70. The stock has a market capitalization of $148.14 million, a PE ratio of 86.26 and a beta of 1.21. The company's fifty day simple moving average is $3.93 and its 200 day simple moving average is $4.24.

Toro Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, June 5th. Shareholders of record on Monday, May 4th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, May 4th.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Toro in a research report on Friday, March 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Sell".

Institutional Investors Weigh In On Toro

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC raised 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 purchasing an additional 30,100 shares in the last quarter. Citadel Advisors LLC bought a new stake in Toro during the 3rd quarter valued at $79,000. Group One Trading LLC bought a new stake in Toro during the 3rd quarter valued at $70,000. Finally, Founders Capital Management raised its position in Toro by 28.6% during the 4th quarter. Founders Capital Management now owns 9,000 shares of the company's stock valued at $48,000 after purchasing an additional 2,000 shares in the last quarter. 1.74% of the stock is owned by 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.

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