34,540 Shares in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Bought by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC acquired a new position in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 34,540 shares of the shipping company’s stock, valued at approximately $270,000. Cubist Systematic Strategies LLC owned about 0.07% of Pangaea Logistics Solutions as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Quarry LP purchased a new position in shares of Pangaea Logistics Solutions during the fourth quarter worth about $35,000. Quadrature Capital Ltd lifted its position in Pangaea Logistics Solutions by 111.5% during the 4th quarter. Quadrature Capital Ltd now owns 38,937 shares of the shipping company’s stock worth $321,000 after acquiring an additional 20,529 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Pangaea Logistics Solutions by 14,653.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 34,671 shares of the shipping company’s stock valued at $242,000 after purchasing an additional 34,436 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Pangaea Logistics Solutions in the first quarter valued at approximately $157,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Pangaea Logistics Solutions by 55.7% in the first quarter. BNP Paribas Financial Markets now owns 59,895 shares of the shipping company’s stock valued at $417,000 after purchasing an additional 21,417 shares during the period. 60.23% of the stock is currently owned by institutional investors and hedge funds.

Pangaea Logistics Solutions Trading Down 3.6 %

NASDAQ PANL opened at $6.49 on Tuesday. The company has a quick ratio of 1.82, a current ratio of 2.16 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $304.39 million, a P/E ratio of 8.54 and a beta of 0.86. Pangaea Logistics Solutions, Ltd. has a 52-week low of $5.74 and a 52-week high of $9.52. The firm has a 50-day moving average price of $6.66 and a 200 day moving average price of $7.16.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings results on Thursday, August 8th. The shipping company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). Pangaea Logistics Solutions had a net margin of 7.02% and a return on equity of 8.76%. The business had revenue of $131.50 million during the quarter, compared to analysts’ expectations of $98.09 million. During the same quarter last year, the firm earned $0.10 earnings per share. Equities research analysts expect that Pangaea Logistics Solutions, Ltd. will post 0.76 EPS for the current year.

Pangaea Logistics Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 6.16%. The ex-dividend date of this dividend was Friday, August 30th. Pangaea Logistics Solutions’s dividend payout ratio is currently 52.63%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th.

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.