Canada Pension Plan Investment Board Invests $10.01 Million in Toro Corp. $TORO

Canada Pension Plan Investment Board bought a new stake in Toro Corp. (NASDAQ:TORO) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 102,700 shares of the company’s stock, valued at approximately $10,005,000.

A number of other hedge funds have also recently modified their holdings of TORO. Group One Trading LLC acquired a new stake in Toro during the 3rd quarter worth $70,000. Citadel Advisors LLC purchased a new stake in Toro in the third quarter valued at $79,000. Alpine Woods Capital Investors LLC purchased a new stake in Toro in the second quarter valued at $235,000. Perigon Wealth Management LLC acquired a new position in Toro in the second quarter valued at $271,000. Finally, Citizens Financial Group Inc. RI acquired a new position in Toro in the second quarter valued at $308,000. 1.74% of the stock is owned by hedge funds and other institutional investors.

Toro Stock Performance

Shares of TORO opened at $6.23 on Friday. The firm has a market cap of $133.76 million, a PE ratio of 155.79 and a beta of 2.53. The company’s 50 day simple moving average is $5.31 and its 200-day simple moving average is $4.81. Toro Corp. has a 12-month low of $2.64 and a 12-month high of $8.50.

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

Analyst Ratings Changes

A number of analysts have recently commented on the company. Weiss Ratings cut Toro from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, July 30th. Wall Street Zen raised Toro to a “hold” rating in a research report on Saturday, June 20th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold”.

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.