Dimensional Fund Advisors LP boosted its stake in shares of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL - Free Report) by 13.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,884,470 shares of the shipping company's stock after purchasing an additional 351,385 shares during the period. Dimensional Fund Advisors LP owned about 4.42% of Pangaea Logistics Solutions worth $20,421,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of PANL. Bank of New York Mellon Corp raised its stake in shares of Pangaea Logistics Solutions by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 80,261 shares of the shipping company's stock worth $568,000 after buying an additional 1,732 shares during the period. Royal Bank of Canada grew its stake in shares of Pangaea Logistics Solutions by 13.0% during the 4th quarter. Royal Bank of Canada now owns 18,123 shares of the shipping company's stock valued at $125,000 after acquiring an additional 2,091 shares during the period. First Trust Advisors LP increased its holdings in Pangaea Logistics Solutions by 2.1% in the 4th quarter. First Trust Advisors LP now owns 106,813 shares of the shipping company's stock worth $735,000 after acquiring an additional 2,159 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Pangaea Logistics Solutions by 7.0% in the 3rd quarter. Alliancebernstein L.P. now owns 35,010 shares of the shipping company's stock worth $178,000 after acquiring an additional 2,300 shares in the last quarter. Finally, Lakewood Asset Management LLC raised its stake in Pangaea Logistics Solutions by 7.3% during the 4th quarter. Lakewood Asset Management LLC now owns 39,542 shares of the shipping company's stock worth $272,000 after acquiring an additional 2,705 shares during the period. Institutional investors own 60.23% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on PANL shares. Weiss Ratings lowered shares of Pangaea Logistics Solutions from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, May 27th. Wall Street Zen upgraded shares of Pangaea Logistics Solutions from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $9.00.
Check Out Our Latest Research Report on PANL
Pangaea Logistics Solutions Price Performance
Shares of NASDAQ:PANL opened at $7.44 on Friday. The firm has a market cap of $486.72 million, a price-to-earnings ratio of 13.53 and a beta of 0.79. The firm has a fifty day moving average price of $7.26 and a 200 day moving average price of $7.70. Pangaea Logistics Solutions Ltd. has a fifty-two week low of $4.54 and a fifty-two week high of $9.39. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.63.
Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The shipping company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.06. The company had revenue of $170.58 million for the quarter, compared to the consensus estimate of $165.78 million. Pangaea Logistics Solutions had a net margin of 5.10% and a return on equity of 5.71%. As a group, sell-side analysts expect that Pangaea Logistics Solutions Ltd. will post 0.71 earnings per share for the current fiscal year.
Pangaea Logistics Solutions Company Profile
(
Free Report)
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.
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