Journey Advisory Group LLC Takes Position in Torm Plc $TRMD

Journey Advisory Group LLC purchased a new stake in shares of Torm Plc (NASDAQ:TRMD) in the third quarter, HoldingsChannel.com reports. The firm purchased 141,624 shares of the company’s stock, valued at approximately $2,920,000.

A number of other institutional investors have also recently added to or reduced their stakes in TRMD. Royal Bank of Canada grew its stake in shares of Torm by 1,346.6% during the first quarter. Royal Bank of Canada now owns 87,285 shares of the company’s stock valued at $1,438,000 after acquiring an additional 81,251 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Torm by 39.9% in the first quarter. NewEdge Advisors LLC now owns 16,740 shares of the company’s stock valued at $276,000 after purchasing an additional 4,776 shares during the last quarter. Kovack Advisors Inc. acquired a new stake in Torm during the 2nd quarter valued at approximately $174,000. Lind Value II ApS purchased a new stake in Torm during the 2nd quarter worth approximately $7,283,000. Finally, SBI Securities Co. Ltd. raised its position in shares of Torm by 2.5% in the 2nd quarter. SBI Securities Co. Ltd. now owns 69,258 shares of the company’s stock valued at $1,154,000 after purchasing an additional 1,722 shares in the last quarter. Institutional investors and hedge funds own 73.89% of the company’s stock.

Analyst Ratings Changes

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

Torm Stock Up 1.1%

Shares of Torm stock opened at $27.47 on Friday. The business has a 50-day moving average price of $22.63 and a 200 day moving average price of $21.83. Torm Plc has a fifty-two week low of $13.60 and a fifty-two week high of $27.55. The firm has a market cap of $2.58 billion, a P/E ratio of 10.10 and a beta of 0.04. The company has a quick ratio of 2.07, a current ratio of 2.37 and a debt-to-equity ratio of 0.36.

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.