Sei Investments Co. acquired a new position in Pangaea Logistics Solutions Ltd. (NASDAQ:PANL – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 131,732 shares of the shipping company’s stock, valued at approximately $933,000.
Several other large investors have also modified their holdings of PANL. Dimensional Fund Advisors LP lifted its stake in shares of Pangaea Logistics Solutions by 13.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,884,470 shares of the shipping company’s stock worth $20,421,000 after buying an additional 351,385 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Pangaea Logistics Solutions by 89.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock valued at $31,000 after buying an additional 2,864 shares during the last quarter. First Trust Advisors LP acquired a new position in Pangaea Logistics Solutions in the 3rd quarter valued at about $532,000. Tower Research Capital LLC TRC raised its holdings in Pangaea Logistics Solutions by 110.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company’s stock valued at $43,000 after acquiring an additional 4,825 shares during the period. Finally, Tidal Investments LLC raised its holdings in Pangaea Logistics Solutions by 54.7% in the 2nd quarter. Tidal Investments LLC now owns 28,149 shares of the shipping company’s stock valued at $132,000 after acquiring an additional 9,953 shares during the period. Hedge funds and other institutional investors own 60.23% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on PANL. 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. Weiss Ratings lowered Pangaea Logistics Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pangaea Logistics Solutions currently has a consensus rating of “Hold”.
Pangaea Logistics Solutions Price Performance
NASDAQ:PANL opened at $7.28 on Thursday. Pangaea Logistics Solutions Ltd. has a 52 week low of $4.54 and a 52 week high of $9.39. The firm has a market cap of $476.62 million, a price-to-earnings ratio of 9.71 and a beta of 0.79. The firm’s 50-day simple moving average is $7.23 and its 200 day simple moving average is $7.70. 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 posted its quarterly earnings data on Monday, August 10th. The shipping company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Pangaea Logistics Solutions had a net margin of 6.70% and a return on equity of 9.52%. The firm had revenue of $187.12 million during the quarter, compared to the consensus estimate of $192.76 million. As a group, sell-side analysts predict that Pangaea Logistics Solutions Ltd. will post 0.81 earnings per share for the current year.
Pangaea Logistics Solutions Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.10 per share. This is an increase from Pangaea Logistics Solutions’s previous quarterly dividend of $0.05. This represents a $0.40 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, September 1st. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is currently 36.36%.
About Pangaea Logistics Solutions
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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