Bailard Inc. Acquires Shares of 31,800 Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

Bailard Inc. bought a new position in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) in the 4th quarter, Holdings Channel reports. The institutional investor bought 31,800 shares of the shipping company’s stock, valued at approximately $262,000.

A number of other large investors have also recently modified their holdings of PANL. Janney Montgomery Scott LLC acquired a new position in shares of Pangaea Logistics Solutions during the 3rd quarter worth $357,000. Bank of New York Mellon Corp boosted its stake in Pangaea Logistics Solutions by 21.3% in the third quarter. Bank of New York Mellon Corp now owns 125,158 shares of the shipping company’s stock valued at $736,000 after buying an additional 22,005 shares in the last quarter. Quadrature Capital Ltd bought a new position in Pangaea Logistics Solutions in the third quarter valued at about $108,000. WINTON GROUP Ltd raised its stake in Pangaea Logistics Solutions by 35.7% during the third quarter. WINTON GROUP Ltd now owns 64,034 shares of the shipping company’s stock worth $377,000 after acquiring an additional 16,847 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Pangaea Logistics Solutions by 39.2% during the third quarter. SG Americas Securities LLC now owns 50,369 shares of the shipping company’s stock worth $296,000 after acquiring an additional 14,194 shares in the last quarter. Institutional investors and hedge funds own 60.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Alliance Global Partners downgraded shares of Pangaea Logistics Solutions from a “buy” rating to a “neutral” rating and set a $8.75 price target on the stock. in a research note on Monday, February 5th. StockNews.com lowered shares of Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a research report on Friday.

Pangaea Logistics Solutions Trading Up 1.2 %

Shares of PANL stock opened at $7.00 on Monday. Pangaea Logistics Solutions, Ltd. has a twelve month low of $5.28 and a twelve month high of $9.52. The stock’s fifty day simple moving average is $7.38 and its 200 day simple moving average is $7.45. The company has a quick ratio of 1.66, a current ratio of 1.82 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $327.04 million, a P/E ratio of 11.86 and a beta of 0.85.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings results on Wednesday, March 13th. The shipping company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.28). Pangaea Logistics Solutions had a return on equity of 8.54% and a net margin of 5.27%. The firm had revenue of $131.88 million for the quarter, compared to the consensus estimate of $152.31 million. During the same quarter last year, the firm posted $0.32 earnings per share. As a group, sell-side analysts predict that Pangaea Logistics Solutions, Ltd. will post 0.87 EPS for the current fiscal year.

Pangaea Logistics Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date was Thursday, February 29th. Pangaea Logistics Solutions’s payout ratio is 67.80%.

Pangaea Logistics Solutions 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.