Walleye Capital LLC Invests $85,000 in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

Walleye Capital LLC acquired a new position in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANLGet Rating) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 16,800 shares of the shipping company’s stock, valued at approximately $85,000.

Several other hedge funds also recently modified their holdings of PANL. Bank of America Corp DE increased its holdings in shares of Pangaea Logistics Solutions by 1,977.9% during the first quarter. Bank of America Corp DE now owns 4,800 shares of the shipping company’s stock worth $27,000 after buying an additional 4,569 shares in the last quarter. Commonwealth Equity Services LLC acquired a new stake in shares of Pangaea Logistics Solutions in the second quarter valued at approximately $53,000. Engineers Gate Manager LP acquired a new stake in shares of Pangaea Logistics Solutions in the first quarter valued at approximately $66,000. Bank of New York Mellon Corp acquired a new stake in shares of Pangaea Logistics Solutions in the first quarter valued at approximately $69,000. Finally, Ritholtz Wealth Management acquired a new stake in shares of Pangaea Logistics Solutions in the second quarter valued at approximately $84,000. Institutional investors and hedge funds own 44.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PANL. StockNews.com raised shares of Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a report on Friday, November 11th. Alliance Global Partners began coverage on shares of Pangaea Logistics Solutions in a report on Wednesday, August 3rd. They issued a “buy” rating and a $7.50 price target for the company.

Pangaea Logistics Solutions Price Performance

Shares of PANL stock opened at $4.83 on Monday. Pangaea Logistics Solutions, Ltd. has a 52-week low of $3.42 and a 52-week high of $7.05. The stock has a market cap of $221.81 million, a PE ratio of 2.73 and a beta of 0.67. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.11 and a current ratio of 2.44. The firm’s 50 day moving average price is $4.81 and its two-hundred day moving average price is $5.15.

Pangaea Logistics Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This is a boost from Pangaea Logistics Solutions’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 8.28%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 16.95%.

Pangaea Logistics Solutions Company Profile

(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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