683 Capital Management LLC Buys New Shares in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

683 Capital Management LLC purchased a new position in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 607,147 shares of the shipping company's stock, valued at approximately $3,254,000. 683 Capital Management LLC owned approximately 0.93% of Pangaea Logistics Solutions at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Pangaea Logistics Solutions in the 4th quarter valued at about $80,000. Boothbay Fund Management LLC acquired a new position in shares of Pangaea Logistics Solutions in the fourth quarter valued at approximately $100,000. Two Sigma Securities LLC bought a new position in shares of Pangaea Logistics Solutions during the fourth quarter worth approximately $84,000. Tower Research Capital LLC TRC boosted its stake in Pangaea Logistics Solutions by 469.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the shipping company's stock valued at $48,000 after purchasing an additional 7,412 shares during the period. Finally, MetLife Investment Management LLC increased its position in Pangaea Logistics Solutions by 99.0% during the 4th quarter. MetLife Investment Management LLC now owns 19,647 shares of the shipping company's stock worth $105,000 after buying an additional 9,773 shares during the period. Institutional investors and hedge funds own 60.23% of the company's stock.

Pangaea Logistics Solutions Trading Up 2.0 %

Shares of PANL stock opened at $4.11 on Friday. The stock has a 50 day simple moving average of $4.68 and a 200 day simple moving average of $5.32. Pangaea Logistics Solutions, Ltd. has a 1 year low of $3.93 and a 1 year high of $8.32. The company has a current ratio of 2.05, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72. The stock has a market cap of $269.73 million, a P/E ratio of 8.74 and a beta of 0.68.

Pangaea Logistics Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 9.73%. The ex-dividend date was Friday, February 28th. Pangaea Logistics Solutions's payout ratio is currently 64.52%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Pangaea Logistics Solutions from a "sell" rating to a "hold" rating in a research report on Tuesday, March 25th.

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.

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