Victory Capital Management Inc. Has $1.03 Million Stock Holdings in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

Victory Capital Management Inc. increased its holdings in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 16.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 142,917 shares of the shipping company’s stock after buying an additional 20,498 shares during the period. Victory Capital Management Inc. owned about 0.30% of Pangaea Logistics Solutions worth $1,033,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Janney Montgomery Scott LLC acquired a new stake in Pangaea Logistics Solutions during the 3rd quarter worth approximately $761,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Pangaea Logistics Solutions in the 3rd quarter worth approximately $113,000. Lakewood Asset Management LLC lifted its position in shares of Pangaea Logistics Solutions by 8.4% in the 3rd quarter. Lakewood Asset Management LLC now owns 36,337 shares of the shipping company’s stock worth $263,000 after purchasing an additional 2,830 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Pangaea Logistics Solutions in the 2nd quarter worth approximately $270,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Pangaea Logistics Solutions in the 2nd quarter worth approximately $58,000. 60.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a research report on Friday, November 15th.

Pangaea Logistics Solutions Stock Up 0.7 %

Shares of NASDAQ PANL opened at $5.72 on Thursday. The company has a market capitalization of $268.27 million, a P/E ratio of 12.09 and a beta of 0.87. Pangaea Logistics Solutions, Ltd. has a 52-week low of $5.63 and a 52-week high of $9.52. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.05. The company’s 50 day moving average price is $6.52 and its 200-day moving average price is $7.00.

Pangaea Logistics Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.10 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.99%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is currently 85.11%.

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.