Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) by 2.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 147,419 shares of the shipping company’s stock after acquiring an additional 3,000 shares during the quarter. Victory Capital Management Inc. owned about 0.22% of Pangaea Logistics Solutions worth $702,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PANL. Tower Research Capital LLC TRC boosted its holdings in 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 valued at $48,000 after purchasing an additional 7,412 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Pangaea Logistics Solutions during the 4th quarter worth approximately $54,000. Commonwealth Equity Services LLC acquired a new position in shares of Pangaea Logistics Solutions in the 4th quarter valued at $55,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Pangaea Logistics Solutions in the 4th quarter valued at $59,000. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Pangaea Logistics Solutions in the 1st quarter valued at $59,000. Institutional investors and hedge funds own 60.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Pangaea Logistics Solutions from a “sell” rating to a “hold” rating in a research report on Friday, July 18th.

Pangaea Logistics Solutions Stock Down 5.7%

PANL opened at $4.59 on Friday. Pangaea Logistics Solutions Ltd. has a one year low of $3.93 and a one year high of $7.49. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.28 and a current ratio of 1.61. The stock has a market capitalization of $301.20 million, a P/E ratio of 13.50 and a beta of 0.77. The business’s 50-day simple moving average is $4.85 and its 200-day simple moving average is $4.83.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings results on Monday, May 12th. The shipping company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.12. Pangaea Logistics Solutions had a return on equity of 4.97% and a net margin of 2.75%. The company had revenue of $122.80 million for the quarter, compared to analyst estimates of $130.37 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. Analysts anticipate that Pangaea Logistics Solutions Ltd. will post 0.43 EPS for the current year.

Pangaea Logistics Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $0.05 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.20 annualized dividend and a yield of 4.4%. Pangaea Logistics Solutions’s dividend payout ratio is 58.82%.

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.