RBF Capital LLC Decreases Stake in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

RBF Capital LLC lowered its position in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANLGet Rating) by 7.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,884 shares of the shipping company’s stock after selling 6,295 shares during the quarter. RBF Capital LLC owned approximately 0.17% of Pangaea Logistics Solutions worth $429,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PANL. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Pangaea Logistics Solutions during the 1st quarter worth $556,000. Acadian Asset Management LLC boosted its stake in shares of Pangaea Logistics Solutions by 12.3% during the 4th quarter. Acadian Asset Management LLC now owns 779,522 shares of the shipping company’s stock valued at $2,944,000 after buying an additional 85,485 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Pangaea Logistics Solutions during the 4th quarter valued at approximately $159,000. Bailard Inc. lifted its stake in Pangaea Logistics Solutions by 17.6% during the first quarter. Bailard Inc. now owns 62,160 shares of the shipping company’s stock worth $346,000 after purchasing an additional 9,300 shares during the last quarter. Finally, EAM Investors LLC bought a new position in Pangaea Logistics Solutions during the first quarter worth $1,360,000. Hedge funds and other institutional investors own 44.83% of the company’s stock.

Pangaea Logistics Solutions Stock Performance

Shares of PANL opened at $5.00 on Monday. The business’s fifty day moving average price is $4.96 and its 200 day moving average price is $5.28. Pangaea Logistics Solutions, Ltd. has a 12-month low of $3.42 and a 12-month high of $7.05. The stock has a market capitalization of $230.03 million, a PE ratio of 2.56 and a beta of 0.65. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.97 and a quick ratio of 1.53.

Pangaea Logistics Solutions (NASDAQ:PANLGet Rating) last issued its earnings results on Tuesday, August 9th. The shipping company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.27. Pangaea Logistics Solutions had a return on equity of 29.34% and a net margin of 10.46%. The firm had revenue of $195.54 million for the quarter, compared to analyst estimates of $180.79 million. Equities research analysts forecast that Pangaea Logistics Solutions, Ltd. will post 2.05 EPS for the current year.

Pangaea Logistics Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 6.00%. The ex-dividend date of this dividend is Wednesday, August 31st. Pangaea Logistics Solutions’s dividend payout ratio is presently 15.38%.

Analyst Ratings Changes

Separately, Alliance Global Partners began coverage on Pangaea Logistics Solutions in a research note on Wednesday, August 3rd. They set a “buy” rating and a $7.50 price objective on the stock.

About Pangaea Logistics Solutions

(Get Rating)

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

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Institutional Ownership by Quarter for Pangaea Logistics Solutions (NASDAQ:PANL)

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