Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) Sees Large Decrease in Short Interest

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) was the target of a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 375,908 shares, a decline of 18.0% from the December 15th total of 458,232 shares. Based on an average daily volume of 235,076 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.7% of the company’s stock are short sold. Approximately 0.7% of the company’s stock are short sold. Based on an average daily volume of 235,076 shares, the days-to-cover ratio is presently 1.6 days.

Analyst Ratings Changes

Several research firms have commented on PANL. Wall Street Zen raised shares of Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a research report on Monday, December 1st. Zacks Research cut Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.00.

Pangaea Logistics Solutions Stock Performance

Shares of NASDAQ:PANL traded up $0.20 during mid-day trading on Tuesday, reaching $6.90. The company had a trading volume of 291,814 shares, compared to its average volume of 320,317. Pangaea Logistics Solutions has a one year low of $3.93 and a one year high of $7.41. The company has a current ratio of 1.62, a quick ratio of 1.35 and a debt-to-equity ratio of 0.72. The company’s 50-day moving average price is $6.91 and its 200-day moving average price is $5.74. The firm has a market cap of $448.29 million, a price-to-earnings ratio of 23.00 and a beta of 0.79.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its earnings results on Thursday, November 6th. The shipping company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.14. Pangaea Logistics Solutions had a return on equity of 3.26% and a net margin of 2.67%.The business had revenue of $168.67 million during the quarter, compared to the consensus estimate of $159.32 million. As a group, equities research analysts anticipate that Pangaea Logistics Solutions will post 0.43 EPS for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Monday, December 1st. Pangaea Logistics Solutions’s payout ratio is currently 66.67%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Large investors have recently modified their holdings of the business. AQR Capital Management LLC bought a new stake in shares of Pangaea Logistics Solutions in the first quarter valued at approximately $195,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Pangaea Logistics Solutions by 18.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,342 shares of the shipping company’s stock valued at $102,000 after buying an additional 3,344 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Pangaea Logistics Solutions by 6.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 233,537 shares of the shipping company’s stock valued at $1,112,000 after acquiring an additional 14,357 shares during the period. Empowered Funds LLC lifted its position in shares of Pangaea Logistics Solutions by 7.3% during the first quarter. Empowered Funds LLC now owns 381,919 shares of the shipping company’s stock worth $1,818,000 after acquiring an additional 25,851 shares in the last quarter. Finally, Creative Planning boosted its holdings in shares of Pangaea Logistics Solutions by 94.2% in the second quarter. Creative Planning now owns 23,094 shares of the shipping company’s stock worth $109,000 after acquiring an additional 11,204 shares during the period. Hedge funds and other institutional investors own 60.23% of the company’s stock.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions Ltd. is a global transportation and logistics company that provides ocean transportation and integrated logistics services. The company operates a fleet of drybulk vessels, including Handysize, Supramax and Ultramax carriers, to transport commodities such as coal, grain, minerals, ores and steel products. In parallel, Pangaea offers asset-light logistics solutions spanning freight forwarding, supply chain management and project cargo services, enabling end-to-end transport for bulk and breakbulk shipments.

Founded in 2012 as a spin-off from an established maritime shipping group, Pangaea Logistics Solutions went public on the Nasdaq in 2013 under the ticker PANL.