Jane Street Group LLC Grows Stock Position in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

Jane Street Group LLC lifted its holdings in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 7.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 61,728 shares of the shipping company’s stock after acquiring an additional 4,499 shares during the period. Jane Street Group LLC owned approximately 0.13% of Pangaea Logistics Solutions worth $446,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. State Street Corp raised its stake in Pangaea Logistics Solutions by 0.8% in the 3rd quarter. State Street Corp now owns 577,110 shares of the shipping company’s stock worth $4,173,000 after acquiring an additional 4,564 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Pangaea Logistics Solutions by 5.3% in the third quarter. Empowered Funds LLC now owns 338,679 shares of the shipping company’s stock worth $2,449,000 after purchasing an additional 17,152 shares during the last quarter. Royce & Associates LP lifted its holdings in shares of Pangaea Logistics Solutions by 2.1% during the third quarter. Royce & Associates LP now owns 774,452 shares of the shipping company’s stock worth $5,599,000 after purchasing an additional 16,207 shares during the period. Victory Capital Management Inc. raised its position in Pangaea Logistics Solutions by 16.7% during the 3rd quarter. Victory Capital Management Inc. now owns 142,917 shares of the shipping company’s stock worth $1,033,000 after buying an additional 20,498 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Pangaea Logistics Solutions in the third quarter worth $761,000. Institutional investors and hedge funds own 60.23% of the company’s stock.

Pangaea Logistics Solutions Stock Performance

PANL opened at $5.40 on Tuesday. Pangaea Logistics Solutions, Ltd. has a 1 year low of $4.82 and a 1 year high of $9.52. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.77. The firm has a fifty day moving average price of $5.73 and a 200 day moving average price of $6.48. The stock has a market cap of $253.27 million, a P/E ratio of 11.49 and a beta of 0.84.

Pangaea Logistics Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 7.41%. The ex-dividend date of this dividend was Friday, November 29th. Pangaea Logistics Solutions’s payout ratio is 85.11%.

Analyst Ratings Changes

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

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.