Walleye Capital LLC Purchases Shares of 16,800 Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

Walleye Capital LLC purchased a new stake in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANLGet Rating) during the 2nd quarter, Holdings Channel reports. The firm purchased 16,800 shares of the shipping company’s stock, valued at approximately $85,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in Pangaea Logistics Solutions in the 1st quarter valued at $556,000. Commonwealth Equity Services LLC acquired a new position in shares of Pangaea Logistics Solutions during the 2nd quarter worth about $53,000. Stratos Wealth Partners LTD. increased its stake in shares of Pangaea Logistics Solutions by 20.5% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 74,370 shares of the shipping company’s stock worth $378,000 after purchasing an additional 12,642 shares during the last quarter. EAM Investors LLC acquired a new position in shares of Pangaea Logistics Solutions during the 1st quarter worth about $1,360,000. Finally, Acadian Asset Management LLC increased its stake in shares of Pangaea Logistics Solutions by 23.1% during the 1st quarter. Acadian Asset Management LLC now owns 959,557 shares of the shipping company’s stock worth $5,333,000 after purchasing an additional 180,035 shares during the last quarter. 44.83% of the stock is currently owned by institutional investors and hedge funds.

Pangaea Logistics Solutions Price Performance

Pangaea Logistics Solutions stock opened at $4.83 on Monday. Pangaea Logistics Solutions, Ltd. has a 12 month low of $3.42 and a 12 month high of $7.05. The stock’s 50 day moving average is $4.81 and its 200-day moving average is $5.15. The company has a current ratio of 2.44, a quick ratio of 2.11 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $221.81 million, a price-to-earnings ratio of 2.73 and a beta of 0.67.

Pangaea Logistics Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be given a $0.10 dividend. This is an increase from Pangaea Logistics Solutions’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, November 30th. This represents a $0.40 annualized dividend and a dividend yield of 8.28%. Pangaea Logistics Solutions’s dividend payout ratio is presently 16.95%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PANL shares. Alliance Global Partners started coverage on shares of Pangaea Logistics Solutions in a research note on Wednesday, August 3rd. They set a “buy” rating and a $7.50 price objective on the stock. StockNews.com upgraded shares of Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a research note on Friday, November 11th.

Pangaea Logistics Solutions Company Profile

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Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. The company offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.

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Institutional Ownership by Quarter for Pangaea Logistics Solutions (NASDAQ:PANL)

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