Freestone Grove Partners LP Invests $8.74 Million in Toro Corp. $TORO

Freestone Grove Partners LP acquired a new position in shares of Toro Corp. (NASDAQ:TORO) in the second quarter, Holdings Channel reports. The firm acquired 89,734 shares of the company’s stock, valued at approximately $8,742,000.

Other hedge funds have also recently made changes to their positions in the company. Group One Trading LLC bought a new stake in Toro during the third quarter valued at about $70,000. Citadel Advisors LLC bought a new position in Toro in the third quarter worth about $79,000. Renaissance Technologies LLC raised its holdings in Toro by 19.2% in the fourth quarter. Renaissance Technologies LLC now owns 186,700 shares of the company’s stock worth $986,000 after purchasing an additional 30,100 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Toro during the second quarter valued at about $1,605,000. Finally, State of Wyoming purchased a new stake in shares of Toro during the second quarter valued at about $1,813,000. 1.74% of the stock is currently owned by hedge funds and other institutional investors.

Toro Price Performance

Toro stock opened at $6.23 on Friday. The stock has a market capitalization of $133.76 million, a price-to-earnings ratio of 155.79 and a beta of 2.53. Toro Corp. has a 1-year low of $2.64 and a 1-year high of $8.50. The business has a fifty day moving average price of $5.31 and a 200-day moving average price of $4.81.

Toro (NASDAQ:TORO) last announced its earnings results on Thursday, May 28th. The company reported ($0.02) earnings per share (EPS) for the quarter. Toro had a net margin of 22.67% and a return on equity of 2.49%. The business had revenue of $5.96 million for the quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Toro to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings lowered shares of Toro from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Toro currently has a consensus rating of “Hold”.

Toro 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.