Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Sees Large Increase in Short Interest

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 874,600 shares, a growth of 28.6% from the February 28th total of 680,000 shares. Currently, 3.0% of the shares of the company are sold short. Based on an average daily trading volume, of 238,700 shares, the short-interest ratio is presently 3.7 days.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Pangaea Logistics Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, March 25th.

Institutional Trading of Pangaea Logistics Solutions

Several institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its position in shares of Pangaea Logistics Solutions by 469.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the shipping company’s stock worth $48,000 after purchasing an additional 7,412 shares during the last quarter. EP Wealth Advisors LLC bought a new position in shares of Pangaea Logistics Solutions in the 4th quarter worth $54,000. Commonwealth Equity Services LLC purchased a new stake in shares of Pangaea Logistics Solutions during the 4th quarter valued at $55,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Pangaea Logistics Solutions during the 4th quarter worth $59,000. Finally, Virtu Financial LLC bought a new stake in shares of Pangaea Logistics Solutions during the 4th quarter worth $59,000. Hedge funds and other institutional investors own 60.23% of the company’s stock.

Pangaea Logistics Solutions Price Performance

PANL stock traded down $0.10 during mid-day trading on Monday, reaching $4.76. 298,334 shares of the company traded hands, compared to its average volume of 230,685. Pangaea Logistics Solutions has a 52-week low of $4.67 and a 52-week high of $8.32. The company has a market capitalization of $312.39 million, a P/E ratio of 10.13 and a beta of 0.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.77. The company has a fifty day moving average price of $5.22 and a 200-day moving average price of $5.75.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.10 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a yield of 8.40%. Pangaea Logistics Solutions’s dividend payout ratio is currently 64.52%.

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.