Royce & Associates LP Acquires 206,575 Shares of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL)

Key Points

• Royce & Associates LP increased its holdings in Pangaea Logistics Solutions Ltd. by 21.5% during the 1st quarter, owning approximately 1.78% of the company valued at $5.55 million.
• Pangaea Logistics Solutions recently reported an operating loss of ($0.03) EPS for the quarter, surpassing analysts' expectations, but the revenue was below the consensus estimate at $122.80 million.
• The company announced a quarterly dividend of $0.05, yielding 3.95%, with a payout ratio of 58.82% as of June 16th.

Royce & Associates LP lifted its stake in Pangaea Logistics Solutions Ltd. (NASDAQ:PANL - Free Report) by 21.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,166,677 shares of the shipping company's stock after acquiring an additional 206,575 shares during the period. Royce & Associates LP owned approximately 1.78% of Pangaea Logistics Solutions worth $5,553,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PANL. Tower Research Capital LLC TRC grew its stake 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 acquiring an additional 7,412 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of Pangaea Logistics Solutions in the fourth quarter worth $54,000. Commonwealth Equity Services LLC acquired a new stake in shares of Pangaea Logistics Solutions in the fourth quarter worth $55,000. Virtu Financial LLC acquired a new stake in shares of Pangaea Logistics Solutions in the fourth quarter worth $59,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Pangaea Logistics Solutions in the fourth quarter worth $59,000. Institutional investors and hedge funds own 60.23% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Pangaea Logistics Solutions from a "sell" rating to a "hold" rating in a research note on Friday, July 18th.

Pangaea Logistics Solutions Stock Performance

PANL traded down $0.01 during trading on Monday, reaching $5.05. 126,414 shares of the company's stock were exchanged, compared to its average volume of 250,576. The company has a market capitalization of $331.39 million, a P/E ratio of 14.85 and a beta of 0.69. The business has a 50 day moving average price of $4.83 and a 200 day moving average price of $4.84. Pangaea Logistics Solutions Ltd. has a fifty-two week low of $3.93 and a fifty-two week high of $7.49. The company has a quick ratio of 1.28, a current ratio of 1.61 and a debt-to-equity ratio of 0.73.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The shipping company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.15) by $0.12. The company had revenue of $122.80 million during the quarter, compared to analysts' expectations of $130.37 million. Pangaea Logistics Solutions had a return on equity of 4.97% and a net margin of 2.75%. During the same period last year, the business earned $0.14 earnings per share. As a group, analysts predict that Pangaea Logistics Solutions Ltd. will post 0.43 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.05 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.96%. Pangaea Logistics Solutions's payout ratio is presently 58.82%.

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.