Key Points
- CEO Petros Panagiotidis bought roughly 2.32 million Toro shares across April 22–24 for about $14.25M (prices $6.08–$6.79), raising his stake to ~20.8 million shares (worth ~ $140M), signaling strong insider confidence.
- The company declared a dividend of $0.90 per share, payable June 5 with an ex‑dividend/record date of May 4.
- Despite the insider buying, analysts maintain a consensus Sell rating; Toro has a market capitalization of about $148M, a PE of ~86, and low institutional ownership (~1.74%).
Toro Corp. (NASDAQ:TORO - Get Free Report) CEO Petros Panagiotis Panagiotidis bought 67,407 shares of Toro stock in a transaction dated Friday, April 24th. The stock was acquired at an average cost of $6.79 per share, for a total transaction of $457,693.53. Following the completion of the acquisition, the chief executive officer directly owned 20,822,206 shares in the company, valued at $141,382,778.74. This represents a 0.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Petros Panagiotis Panagiotidis also recently made the following trade(s):
- On Thursday, April 23rd, Petros Panagiotis Panagiotidis bought 265,836 shares of Toro stock. The stock was acquired at an average cost of $6.52 per share, for a total transaction of $1,733,250.72.
- On Wednesday, April 22nd, Petros Panagiotis Panagiotidis bought 1,982,728 shares of Toro stock. The stock was acquired at an average cost of $6.08 per share, for a total transaction of $12,054,986.24.
Toro Price Performance
Shares of TORO opened at $6.90 on Friday. The company has a market capitalization of $148.17 million, a P/E ratio of 86.26 and a beta of 1.21. Toro Corp. has a one year low of $1.77 and a one year high of $7.70. The business's 50 day simple moving average is $3.93 and its 200-day simple moving average is $4.24.
Toro Cuts Dividend
The firm also recently announced a dividend, which will be paid on Friday, June 5th. Stockholders of record on Monday, May 4th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Monday, May 4th.
Key Stories Impacting Toro
Here are the key news stories impacting Toro this week:
- Positive Sentiment: CEO Petros Panagiotidis bought aggressively over April 22–24, purchasing ~2.32 million shares for roughly $14.25M at average prices between $6.08–$6.79; his stake now totals ~20.82M shares (worth ≈$141M). Heavy insider buying signals strong management confidence and likely supports the share lift. Toro Corp. CEO Makes Bold Multi-Million Dollar Bet on His Own Company SEC Form 4
- Positive Sentiment: Product recognition: Toro's Super Recycler was ranked best overall gas mower, a positive consumer/product headline that can support brand strength and long‑term revenue prospects (limited immediate impact but helpful for sentiment). Toro Super Recycler ranked best overall gas mower
- Neutral Sentiment: Reported short interest data shows "0 shares" as of April 24 (appears to be a data anomaly). If accurate, low short interest reduces immediate downside pressure; if erroneous, it has no informational value. Treat this as neutral until confirmed.
- Negative Sentiment: Analyst view: a recent downgrade flagged TORO as overvalued after a strong momentum rally, which could pressure sentiment among retail/quant traders and limit further multiple expansion. This is a potential headwind if other analysts follow suit. Toro Corp.: Downgrading On Valuation After Epic Momentum Rally
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its position in Toro by 19.2% in the 4th quarter. Renaissance Technologies LLC now owns 186,700 shares of the company's stock worth $986,000 after purchasing an additional 30,100 shares during the last quarter. Founders Capital Management raised its position in Toro by 28.6% in the 4th quarter. Founders Capital Management now owns 9,000 shares of the company's stock worth $48,000 after purchasing an additional 2,000 shares during the last quarter. Citadel Advisors LLC bought a new position in Toro in the 3rd quarter worth approximately $79,000. Finally, Group One Trading LLC bought a new position in Toro in the 3rd quarter worth approximately $70,000. Institutional investors own 1.74% of the company's stock.
Wall Street Analyst Weigh In
Separately, Weiss Ratings restated a "sell (d)" rating on shares of Toro in a research report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of "Sell".
Get Our Latest Stock Report on Toro
Toro Company Profile
(
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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.
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