Koss Olinger Consulting LLC Increases Stake in Pangaea Logistics Solutions Ltd. (NASDAQ:PANL)

Key Points

• Koss Olinger Consulting LLC significantly increased its stake in Pangaea Logistics Solutions by purchasing an additional 96,513 shares, bringing its total holdings to 116,029 shares, valued at approximately $552,000.
• Pangaea Logistics recently reported a quarterly earnings per share (EPS) of ($0.02), surpassing analysts' expectations of ($0.04) and generating revenues of $156.69 million, well above the consensus estimate.
• The company declared a quarterly dividend of $0.05, with a yield of 4.1%, and a payout ratio of 90.91%, highlighting its commitment to returning value to shareholders.

Koss Olinger Consulting LLC grew its holdings in Pangaea Logistics Solutions Ltd. (NASDAQ:PANL - Free Report) by 494.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 116,029 shares of the shipping company's stock after acquiring an additional 96,513 shares during the period. Koss Olinger Consulting LLC owned 0.18% of Pangaea Logistics Solutions worth $552,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PANL. Tower Research Capital LLC TRC lifted its position in shares of Pangaea Logistics Solutions by 469.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the shipping company's stock worth $48,000 after buying an additional 7,412 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in Pangaea Logistics Solutions in the fourth quarter worth about $54,000. Commonwealth Equity Services LLC bought a new stake in Pangaea Logistics Solutions during the fourth quarter valued at about $55,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Pangaea Logistics Solutions in the 4th quarter worth approximately $59,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Pangaea Logistics Solutions during the 1st quarter valued at $59,000. Hedge funds and other institutional investors own 60.23% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PANL shares. Wall Street Zen upgraded Pangaea Logistics Solutions from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. B. Riley decreased their target price on Pangaea Logistics Solutions from $11.00 to $9.00 and set a "buy" rating on the stock in a research report on Monday.

Pangaea Logistics Solutions Trading Down 1.2%

Shares of PANL stock traded down $0.06 during trading on Thursday, hitting $5.07. 80,556 shares of the stock traded hands, compared to its average volume of 250,118. Pangaea Logistics Solutions Ltd. has a 52-week low of $3.93 and a 52-week high of $7.49. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.46 and a quick ratio of 1.28. The firm has a market capitalization of $330.77 million, a P/E ratio of 23.05 and a beta of 0.77. The firm's fifty day moving average price is $4.92 and its 200-day moving average price is $4.80.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last posted its earnings results on Thursday, August 7th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. The firm had revenue of $156.69 million for the quarter, compared to analyst estimates of $129.24 million. Pangaea Logistics Solutions had a return on equity of 3.38% and a net margin of 1.52%. As a group, research analysts forecast that Pangaea Logistics Solutions Ltd. will post 0.43 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a $0.05 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.20 annualized dividend and a dividend yield of 3.9%. Pangaea Logistics Solutions's payout ratio is 90.91%.

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.