Man Group plc Invests $25.17 Million in Toro Corp. $TORO

Man Group plc acquired a new stake in Toro Corp. (NASDAQ:TORO) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 258,393 shares of the company’s stock, valued at approximately $25,173,000.

Several other hedge funds have also recently bought and sold shares of the company. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Toro in the 2nd quarter valued at about $23,721,000. Bank of New York Mellon Corp acquired a new stake in shares of Toro during the second quarter worth about $94,442,000. Callan Family Office LLC acquired a new stake in Toro during the 2nd quarter worth approximately $8,347,000. Ieq Capital LLC acquired a new stake in Toro during the 2nd quarter worth approximately $16,752,000. Finally, BlackRock Inc. acquired a new stake in Toro during the 2nd quarter worth approximately $874,436,000. Institutional investors and hedge funds own 1.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TORO shares. Weiss Ratings downgraded shares of Toro from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 30th. Wall Street Zen upgraded Toro to a “hold” rating in a research note on Saturday, June 20th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

Toro Stock Down 1.3%

Shares of Toro stock opened at $6.16 on Thursday. Toro Corp. has a 52-week low of $2.64 and a 52-week high of $8.50. The company has a market capitalization of $132.26 million, a P/E ratio of 154.04 and a beta of 2.53. The company has a 50 day moving average of $5.26 and a 200 day moving average of $4.78.

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

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.