Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Shares Sold by LSV Asset Management

LSV Asset Management cut its stake in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Free Report) by 67.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 158,293 shares of the shipping company's stock after selling 324,507 shares during the quarter. LSV Asset Management owned about 0.34% of Pangaea Logistics Solutions worth $1,304,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of Pangaea Logistics Solutions by 21.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 125,158 shares of the shipping company's stock worth $736,000 after acquiring an additional 22,005 shares in the last quarter. WINTON GROUP Ltd increased its position in shares of Pangaea Logistics Solutions by 35.7% during the third quarter. WINTON GROUP Ltd now owns 64,034 shares of the shipping company's stock worth $377,000 after purchasing an additional 16,847 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Pangaea Logistics Solutions during the 3rd quarter valued at $357,000. SG Americas Securities LLC boosted its position in shares of Pangaea Logistics Solutions by 11.8% in the 4th quarter. SG Americas Securities LLC now owns 56,332 shares of the shipping company's stock worth $464,000 after purchasing an additional 5,963 shares in the last quarter. Finally, Annex Advisory Services LLC grew its stake in Pangaea Logistics Solutions by 17.3% during the 3rd quarter. Annex Advisory Services LLC now owns 51,018 shares of the shipping company's stock worth $300,000 after buying an additional 7,517 shares during the last quarter. 60.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on PANL. StockNews.com cut Pangaea Logistics Solutions from a "buy" rating to a "hold" rating in a research note on Friday, April 26th. Alliance Global Partners cut shares of Pangaea Logistics Solutions from a "buy" rating to a "neutral" rating and set a $8.75 target price for the company. in a research note on Monday, February 5th.

Pangaea Logistics Solutions Stock Performance

PANL stock traded down $0.21 during midday trading on Friday, reaching $7.55. The stock had a trading volume of 248,110 shares, compared to its average volume of 298,695. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.66 and a current ratio of 1.82. The firm has a fifty day simple moving average of $7.20 and a two-hundred day simple moving average of $7.52. The stock has a market cap of $352.74 million, a PE ratio of 13.15 and a beta of 0.81. Pangaea Logistics Solutions, Ltd. has a 52-week low of $5.28 and a 52-week high of $9.52.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last released its earnings results on Thursday, May 9th. The shipping company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.05. Pangaea Logistics Solutions had a return on equity of 8.54% and a net margin of 5.27%. The firm had revenue of $104.75 million during the quarter, compared to the consensus estimate of $117.47 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. As a group, equities research analysts anticipate that Pangaea Logistics Solutions, Ltd. will post 0.87 EPS for the current year.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.30%. The ex-dividend date was Thursday, February 29th. Pangaea Logistics Solutions's payout ratio is 67.80%.

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.