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

LSV Asset Management reduced its stake in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 67.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,293 shares of the shipping company’s stock after selling 324,507 shares during the period. LSV Asset Management owned approximately 0.34% of Pangaea Logistics Solutions worth $1,304,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. WealthTrust Axiom LLC raised its stake in shares of Pangaea Logistics Solutions by 8.7% in the fourth quarter. WealthTrust Axiom LLC now owns 26,805 shares of the shipping company’s stock valued at $221,000 after acquiring an additional 2,149 shares in the last quarter. Bailard Inc. purchased a new position in Pangaea Logistics Solutions in the fourth quarter valued at $262,000. SG Americas Securities LLC increased its holdings in Pangaea Logistics Solutions by 11.8% in the fourth quarter. SG Americas Securities LLC now owns 56,332 shares of the shipping company’s stock valued at $464,000 after buying an additional 5,963 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Pangaea Logistics Solutions in the third quarter valued at $108,000. Finally, Brandywine Global Investment Management LLC increased its holdings in Pangaea Logistics Solutions by 11.1% in the third quarter. Brandywine Global Investment Management LLC now owns 21,878 shares of the shipping company’s stock valued at $129,000 after buying an additional 2,180 shares during the last quarter. 60.23% of the stock is currently owned by institutional investors and hedge funds.

Pangaea Logistics Solutions Stock Performance

Shares of PANL stock opened at $7.76 on Friday. The stock’s 50-day moving average is $7.20 and its two-hundred day moving average is $7.52. The firm has a market cap of $362.55 million, a price-to-earnings ratio of 13.15 and a beta of 0.81. Pangaea Logistics Solutions, Ltd. has a 1 year low of $5.28 and a 1 year high of $9.52. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.66 and a current ratio of 1.82.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings results on Wednesday, March 13th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.28). Pangaea Logistics Solutions had a return on equity of 8.54% and a net margin of 5.27%. The company had revenue of $131.88 million for the quarter, compared to analysts’ expectations of $152.31 million. During the same period in the prior year, the business earned $0.32 EPS. Analysts predict that Pangaea Logistics Solutions, Ltd. will post 0.87 earnings per share for the current year.

Pangaea Logistics Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date was Thursday, February 29th. Pangaea Logistics Solutions’s dividend payout ratio is currently 67.80%.

Wall Street Analyst Weigh In

PANL has been the topic of several recent analyst reports. StockNews.com lowered Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Alliance Global Partners lowered Pangaea Logistics Solutions from a “buy” rating to a “neutral” rating and set a $8.75 target price on the stock. in a report on Monday, February 5th.

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.