Goldman Sachs Group Inc. Increases Stock Holdings in Pangaea Logistics Solutions Ltd. $PANL

Goldman Sachs Group Inc. grew its position in shares of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) by 6.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 233,537 shares of the shipping company’s stock after purchasing an additional 14,357 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.36% of Pangaea Logistics Solutions worth $1,112,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of PANL. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Pangaea Logistics Solutions by 15.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,552 shares of the shipping company’s stock worth $88,000 after buying an additional 2,551 shares during the last quarter. 683 Capital Management LLC boosted its position in shares of Pangaea Logistics Solutions by 0.5% during the 1st quarter. 683 Capital Management LLC now owns 609,990 shares of the shipping company’s stock worth $2,904,000 after purchasing an additional 2,843 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Pangaea Logistics Solutions by 2.1% during the 1st quarter. Victory Capital Management Inc. now owns 147,419 shares of the shipping company’s stock worth $702,000 after purchasing an additional 3,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Pangaea Logistics Solutions by 18.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,342 shares of the shipping company’s stock worth $102,000 after purchasing an additional 3,344 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Pangaea Logistics Solutions by 27.5% during the 4th quarter. Bank of America Corp DE now owns 32,312 shares of the shipping company’s stock worth $173,000 after purchasing an additional 6,965 shares in the last quarter. 60.23% of the stock is currently owned by hedge funds and other institutional investors.

Pangaea Logistics Solutions Trading Down 3.9%

Shares of Pangaea Logistics Solutions stock opened at $5.42 on Monday. Pangaea Logistics Solutions Ltd. has a fifty-two week low of $3.93 and a fifty-two week high of $7.49. The firm has a market cap of $353.60 million, a PE ratio of 24.64 and a beta of 0.71. The business’s fifty day moving average is $5.16 and its two-hundred day moving average is $4.81. The company has a quick ratio of 1.15, a current ratio of 1.46 and a debt-to-equity ratio of 0.72.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its quarterly earnings data on Thursday, August 7th. The shipping company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. The business had revenue of $156.69 million for the quarter, compared to analyst estimates of $129.24 million. Pangaea Logistics Solutions had a net margin of 1.52% and a return on equity of 3.38%. Analysts anticipate that Pangaea Logistics Solutions Ltd. will post 0.43 earnings per share for the current year.

Pangaea Logistics Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is 90.91%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. B. Riley decreased their target price on shares of Pangaea Logistics Solutions from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. Wall Street Zen raised Pangaea Logistics Solutions from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Pangaea Logistics Solutions has a consensus rating of “Buy” and an average target price of $9.00.

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.