Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its position in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 31.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,867 shares of the shipping company’s stock after selling 16,331 shares during the period. SG Americas Securities LLC owned approximately 0.08% of Pangaea Logistics Solutions worth $259,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Pangaea Logistics Solutions by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,853,611 shares of the shipping company’s stock worth $14,514,000 after acquiring an additional 112,298 shares during the period. AQR Capital Management LLC grew its holdings in shares of Pangaea Logistics Solutions by 131.7% in the 2nd quarter. AQR Capital Management LLC now owns 265,177 shares of the shipping company’s stock worth $2,076,000 after acquiring an additional 150,713 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Pangaea Logistics Solutions in the 2nd quarter worth approximately $270,000. Lazard Asset Management LLC acquired a new stake in shares of Pangaea Logistics Solutions in the 1st quarter worth approximately $61,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Pangaea Logistics Solutions by 50.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 27,998 shares of the shipping company’s stock worth $196,000 after acquiring an additional 9,352 shares during the period. Institutional investors and hedge funds own 60.23% of the company’s stock.

Analysts Set New Price Targets

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

Pangaea Logistics Solutions Price Performance

PANL stock opened at $6.50 on Monday. Pangaea Logistics Solutions, Ltd. has a 1 year low of $5.74 and a 1 year high of $9.52. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.82 and a current ratio of 2.16. The stock’s 50 day moving average price is $6.65 and its 200 day moving average price is $7.14. The firm has a market cap of $304.86 million, a P/E ratio of 8.55 and a beta of 0.86.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its earnings results on Thursday, August 8th. The shipping company reported $0.10 earnings per share (EPS) 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 company had revenue of $131.50 million during the quarter, compared to analysts’ expectations of $98.09 million. During the same period in the previous year, the company posted $0.10 EPS. On average, sell-side analysts expect that Pangaea Logistics Solutions, Ltd. will post 0.76 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date was Friday, August 30th. Pangaea Logistics Solutions’s dividend payout ratio is presently 52.63%.

About Pangaea Logistics Solutions

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.