Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Short Interest Down 21.3% in September

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 292,300 shares, a decrease of 21.3% from the September 15th total of 371,400 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily volume of 137,600 shares, the short-interest ratio is presently 2.1 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Large investors have recently modified their holdings of the business. Quarry LP acquired a new stake in Pangaea Logistics Solutions in the 4th quarter valued at about $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Pangaea Logistics Solutions in the 2nd quarter valued at about $58,000. Lazard Asset Management LLC acquired a new stake in Pangaea Logistics Solutions in the 1st quarter valued at about $61,000. Mackenzie Financial Corp acquired a new stake in Pangaea Logistics Solutions in the 2nd quarter valued at about $110,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in Pangaea Logistics Solutions in the 1st quarter valued at about $114,000. 60.23% of the stock is currently owned by institutional investors and hedge funds.

Pangaea Logistics Solutions Stock Down 3.9 %

Shares of Pangaea Logistics Solutions stock traded down $0.25 during trading hours on Tuesday, reaching $6.24. 285,804 shares of the company’s stock were exchanged, compared to its average volume of 216,263. The company has a 50 day moving average of $6.66 and a two-hundred day moving average of $7.15. Pangaea Logistics Solutions has a fifty-two week low of $5.74 and a fifty-two week high of $9.52. The company has a current ratio of 2.16, a quick ratio of 1.82 and a debt-to-equity ratio of 0.57. The stock has a market cap of $292.67 million, a P/E ratio of 8.21 and a beta of 0.86.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings data on Thursday, August 8th. The shipping company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). Pangaea Logistics Solutions had a return on equity of 8.76% and a net margin of 7.02%. The business had revenue of $131.50 million for the quarter, compared to analyst estimates of $98.09 million. During the same quarter in the prior year, the company earned $0.10 earnings per share. On average, sell-side analysts forecast that Pangaea Logistics Solutions will post 0.76 EPS for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were paid a dividend of $0.10 per share. The ex-dividend date was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.41%. Pangaea Logistics Solutions’s dividend payout ratio is 52.63%.

About Pangaea Logistics Solutions

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.