Renaissance Technologies LLC decreased its stake in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Free Report) by 10.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 549,900 shares of the shipping company's stock after selling 67,400 shares during the quarter. Renaissance Technologies LLC owned approximately 0.85% of Pangaea Logistics Solutions worth $2,947,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PANL. Commonwealth Equity Services LLC bought a new stake in Pangaea Logistics Solutions during the 4th quarter valued at about $55,000. Virtu Financial LLC bought a new stake in shares of Pangaea Logistics Solutions in the 4th quarter valued at about $59,000. Wells Fargo & Company MN raised its holdings in shares of Pangaea Logistics Solutions by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 18,396 shares of the shipping company's stock valued at $99,000 after purchasing an additional 4,007 shares in the last quarter. Koss Olinger Consulting LLC bought a new stake in shares of Pangaea Logistics Solutions in the 4th quarter valued at about $105,000. Finally, Hudson Valley Investment Advisors Inc. ADV bought a new stake in shares of Pangaea Logistics Solutions in the 4th quarter valued at about $123,000. Institutional investors own 60.23% of the company's stock.
Analysts Set New Price Targets
Separately, StockNews.com upgraded shares of Pangaea Logistics Solutions from a "sell" rating to a "hold" rating in a report on Tuesday, March 25th.
Read Our Latest Analysis on PANL
Pangaea Logistics Solutions Stock Performance
Shares of PANL stock traded down $0.01 during trading hours on Tuesday, hitting $4.07. The company's stock had a trading volume of 38,059 shares, compared to its average volume of 189,620. The stock has a market cap of $266.78 million, a PE ratio of 8.63 and a beta of 0.68. Pangaea Logistics Solutions, Ltd. has a 12-month low of $3.93 and a 12-month high of $8.32. The company has a 50 day moving average of $4.75 and a 200 day moving average of $5.35. 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 Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 annualized dividend and a yield of 9.84%. Pangaea Logistics Solutions's dividend payout ratio is presently 64.52%.
Pangaea Logistics Solutions Company Profile
(
Free Report)
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.
Read More
Before you consider Pangaea Logistics Solutions, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Pangaea Logistics Solutions wasn't on the list.
While Pangaea Logistics Solutions currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
