D. E. Shaw & Co. Inc. Makes New Investment in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

D. E. Shaw & Co. Inc. bought a new stake in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 57,313 shares of the shipping company's stock, valued at approximately $307,000. D. E. Shaw & Co. Inc. owned about 0.09% of Pangaea Logistics Solutions at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PANL. EP Wealth Advisors LLC purchased a new position in Pangaea Logistics Solutions in the fourth quarter valued at about $54,000. Bridgeway Capital Management LLC raised its position in Pangaea Logistics Solutions by 2.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 652,368 shares of the shipping company's stock valued at $3,497,000 after purchasing an additional 17,389 shares during the period. Bank of America Corp DE raised its position in Pangaea Logistics Solutions by 27.5% in the fourth quarter. Bank of America Corp DE now owns 32,312 shares of the shipping company's stock valued at $173,000 after purchasing an additional 6,965 shares during the period. 683 Capital Management LLC purchased a new position in Pangaea Logistics Solutions in the fourth quarter valued at about $3,254,000. Finally, Quarry LP purchased a new position in Pangaea Logistics Solutions in the fourth quarter valued at about $80,000. Institutional investors and hedge funds own 60.23% of the company's stock.

Pangaea Logistics Solutions Stock Down 0.2%

NASDAQ:PANL traded down $0.01 during mid-day trading on Friday, hitting $4.52. The company had a trading volume of 187,363 shares, compared to its average volume of 204,370. The business has a fifty day simple moving average of $4.35 and a 200-day simple moving average of $5.01. The company has a current ratio of 2.05, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72. Pangaea Logistics Solutions, Ltd. has a 1 year low of $3.93 and a 1 year high of $8.32. The firm has a market capitalization of $296.61 million, a price-to-earnings ratio of 9.62 and a beta of 0.63.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The shipping company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.12. Pangaea Logistics Solutions had a return on equity of 7.88% and a net margin of 4.14%. The business had revenue of $122.80 million for the quarter, compared to analysts' expectations of $130.37 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. Equities analysts forecast that Pangaea Logistics Solutions, Ltd. will post 0.43 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Announces Dividend

The firm also recently announced a dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 2nd. Pangaea Logistics Solutions's payout ratio is 58.82%.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Pangaea Logistics Solutions from a "hold" rating to a "sell" rating in a research report on Wednesday, May 14th.

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.