Short Interest in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Decreases By 20.7%

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) was the target of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totalling 301,100 shares, a decrease of 20.7% from the June 30th total of 379,600 shares. Approximately 1.0% of the company’s shares are sold short. Based on an average daily trading volume, of 155,900 shares, the short-interest ratio is presently 1.9 days.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Several large investors have recently made changes to their positions in PANL. Cable Car Capital LLC acquired a new stake in shares of Pangaea Logistics Solutions in the fourth quarter worth $7,299,000. Kingsview Wealth Management LLC acquired a new stake in shares of Pangaea Logistics Solutions in the first quarter worth $425,000. Janus Henderson Group PLC acquired a new stake in shares of Pangaea Logistics Solutions in the first quarter worth $256,000. Jump Financial LLC acquired a new stake in Pangaea Logistics Solutions during the 4th quarter valued at $302,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Pangaea Logistics Solutions by 14,653.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 34,671 shares of the shipping company’s stock valued at $242,000 after purchasing an additional 34,436 shares in the last quarter. Institutional investors and hedge funds own 60.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PANL shares. Alliance Global Partners raised shares of Pangaea Logistics Solutions from a “neutral” rating to a “buy” rating and set a $10.25 price objective on the stock in a research note on Monday, May 13th. StockNews.com lowered shares of Pangaea Logistics Solutions from a “strong-buy” rating to a “buy” rating in a research report on Tuesday.

Pangaea Logistics Solutions Trading Down 0.8 %

PANL stock traded down $0.06 on Tuesday, hitting $7.00. 189,874 shares of the company were exchanged, compared to its average volume of 243,765. Pangaea Logistics Solutions has a twelve month low of $5.28 and a twelve month high of $9.52. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.97 and a quick ratio of 1.75. The business’s fifty day moving average is $7.69 and its two-hundred day moving average is $7.75. The stock has a market capitalization of $328.30 million, a price-to-earnings ratio of 9.33 and a beta of 0.88.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings results on Thursday, May 9th. The shipping company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05. Pangaea Logistics Solutions had a net margin of 7.04% and a return on equity of 8.86%. The firm had revenue of $104.75 million during the quarter, compared to analyst estimates of $117.47 million. During the same quarter in the prior year, the business posted $0.11 earnings per share. As a group, research analysts forecast that Pangaea Logistics Solutions will post 0.73 earnings per share for the current year.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 5.71%. The ex-dividend date was Thursday, May 30th. Pangaea Logistics Solutions’s payout ratio is currently 52.63%.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.