Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Sees Large Decline in Short Interest

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) was the recipient of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totalling 301,100 shares, a decrease of 20.7% from the June 30th total of 379,600 shares. Based on an average daily trading volume, of 155,900 shares, the short-interest ratio is currently 1.9 days. Approximately 1.0% of the shares of the stock are short sold.

Analyst Ratings Changes

Several brokerages have recently weighed in on PANL. Alliance Global Partners upgraded Pangaea Logistics Solutions from a “neutral” rating to a “buy” rating and set a $10.25 price target on the stock in a research report on Monday, May 13th. StockNews.com cut Pangaea Logistics Solutions from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 18th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cable Car Capital LLC purchased a new stake in Pangaea Logistics Solutions in the fourth quarter worth $7,299,000. Kingsview Wealth Management LLC purchased a new stake in Pangaea Logistics Solutions in the first quarter worth $425,000. Janus Henderson Group PLC purchased a new stake in Pangaea Logistics Solutions in the first quarter worth $256,000. Jump Financial LLC purchased a new stake in Pangaea Logistics Solutions in the fourth quarter worth $302,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Pangaea Logistics Solutions by 14,653.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 34,671 shares of the shipping company’s stock worth $242,000 after acquiring an additional 34,436 shares during the period. Institutional investors own 60.23% of the company’s stock.

Pangaea Logistics Solutions Price Performance

Shares of NASDAQ PANL traded up $0.02 during midday trading on Friday, hitting $7.30. 100,602 shares of the company’s stock were exchanged, compared to its average volume of 145,761. Pangaea Logistics Solutions has a 12-month low of $5.28 and a 12-month high of $9.52. The company has a current ratio of 1.97, a quick ratio of 1.75 and a debt-to-equity ratio of 0.54. The business’s fifty day moving average price is $7.70 and its two-hundred day moving average price is $7.76. The company has a market cap of $342.37 million, a price-to-earnings ratio of 9.61 and a beta of 0.88.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings results on Thursday, May 9th. The shipping company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. Pangaea Logistics Solutions had a net margin of 7.04% and a return on equity of 8.86%. The business had revenue of $104.75 million for the quarter, compared to analysts’ expectations of $117.47 million. During the same period last year, the business earned $0.11 earnings per share. As a group, research analysts forecast that Pangaea Logistics Solutions will post 0.73 EPS for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 5.48%. The ex-dividend date was Thursday, May 30th. Pangaea Logistics Solutions’s dividend payout ratio is 52.63%.

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.