Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC boosted its position in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 131.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 265,177 shares of the shipping company’s stock after purchasing an additional 150,713 shares during the quarter. AQR Capital Management LLC owned about 0.57% of Pangaea Logistics Solutions worth $2,076,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Pangaea Logistics Solutions during the fourth quarter valued at approximately $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Pangaea Logistics Solutions during the 2nd quarter worth $58,000. Lazard Asset Management LLC acquired a new stake in shares of Pangaea Logistics Solutions during the first quarter worth $61,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Pangaea Logistics Solutions in the first quarter valued at $114,000. Finally, Principal Financial Group Inc. acquired a new position in Pangaea Logistics Solutions in the first quarter valued at $157,000. 60.23% of the stock is currently owned by hedge funds and other institutional investors.

Pangaea Logistics Solutions Stock Performance

NASDAQ:PANL opened at $6.86 on Wednesday. The company has a market cap of $321.75 million, a P/E ratio of 9.03 and a beta of 0.86. The firm’s 50 day moving average is $6.68 and its two-hundred day moving average is $7.16. Pangaea Logistics Solutions, Ltd. has a fifty-two week low of $5.74 and a fifty-two week high of $9.52. The company has a quick ratio of 1.82, a current ratio of 2.16 and a debt-to-equity ratio of 0.57.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its 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). The firm had revenue of $131.50 million during the quarter, compared to analyst estimates of $98.09 million. Pangaea Logistics Solutions had a net margin of 7.02% and a return on equity of 8.76%. During the same quarter in the previous year, the business posted $0.10 EPS. Analysts expect that Pangaea Logistics Solutions, Ltd. will post 0.76 EPS for the current year.

Pangaea Logistics Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were issued a $0.10 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.40 annualized dividend and a yield of 5.83%. Pangaea Logistics Solutions’s payout ratio is 52.63%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a report on Thursday, September 19th.

Pangaea Logistics Solutions Company 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.