Journey Advisory Group LLC Invests $2.92 Million in Torm Plc $TRMD

Journey Advisory Group LLC bought a new position in Torm Plc (NASDAQ:TRMD) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 141,624 shares of the company’s stock, valued at approximately $2,920,000. Journey Advisory Group LLC owned about 0.15% of Torm as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC acquired a new position in shares of Torm in the 2nd quarter valued at $46,000. Weaver Consulting Group acquired a new position in Torm in the second quarter valued at $167,000. Kovack Advisors Inc. acquired a new position in Torm in the second quarter valued at $174,000. Invesco Ltd. purchased a new stake in Torm during the second quarter valued at about $190,000. Finally, State of Wyoming acquired a new stake in Torm during the third quarter worth about $254,000. Institutional investors and hedge funds own 73.89% of the company’s stock.

Torm Price Performance

Shares of NASDAQ TRMD opened at $27.47 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.37 and a quick ratio of 2.07. Torm Plc has a 1-year low of $13.60 and a 1-year high of $27.55. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 10.10 and a beta of 0.04. The business has a 50-day moving average of $22.63 and a 200-day moving average of $21.83.

Analysts Set New Price Targets

Separately, Fearnley Fonds raised Torm from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $23.00.

Torm Company Profile

Torm A/S (NASDAQ: TRMD) is an international shipping company specializing in the transportation of refined petroleum products. The firm owns and operates a modern fleet of product tankers, including both Handysize and MR vessels, which are designed to carry a broad range of clean petroleum cargoes such as gasoline, jet fuel and diesel. Torm’s core business revolves around voyage and time-charter contracts with major oil companies, trading houses and other energy sector clients around the world.

The company’s fleet is deployed on global trade routes, with particular focus on major refining and consumption regions in Europe, North America and Asia.