Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Short Interest Update

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Get Free Report) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 292,300 shares, a decline of 21.3% from the September 15th total of 371,400 shares. Based on an average trading volume of 137,600 shares, the days-to-cover ratio is currently 2.1 days. Approximately 1.0% of the shares of the company are short sold.

Pangaea Logistics Solutions Price Performance

Shares of NASDAQ PANL traded up $0.10 during midday trading on Friday, hitting $6.73. The stock had a trading volume of 80,815 shares, compared to its average volume of 216,328. The company has a quick ratio of 1.82, a current ratio of 2.16 and a debt-to-equity ratio of 0.57. The stock has a 50 day simple moving average of $6.66 and a 200-day simple moving average of $7.15. The company has a market capitalization of $315.65 million, a PE ratio of 8.86 and a beta of 0.86. Pangaea Logistics Solutions has a 1 year low of $5.74 and a 1 year high of $9.52.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The shipping company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.05). Pangaea Logistics Solutions had a return on equity of 8.76% and a net margin of 7.02%. The company had revenue of $131.50 million for the quarter, compared to analysts' expectations of $98.09 million. During the same quarter in the prior year, the firm earned $0.10 EPS. On average, sell-side analysts expect that Pangaea Logistics Solutions will post 0.76 EPS for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date of this dividend was Friday, August 30th. Pangaea Logistics Solutions's dividend payout ratio is presently 52.63%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Pangaea Logistics Solutions from a "buy" rating to a "hold" rating in a research note on Wednesday.

Institutional Trading of Pangaea Logistics Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PANL. Principal Financial Group Inc. grew its stake in shares of Pangaea Logistics Solutions by 6.7% in the second quarter. Principal Financial Group Inc. now owns 24,047 shares of the shipping company's stock worth $188,000 after acquiring an additional 1,514 shares in the last quarter. SG Americas Securities LLC boosted its stake in Pangaea Logistics Solutions by 3.0% in the first quarter. SG Americas Securities LLC now owns 58,004 shares of the shipping company's stock valued at $404,000 after acquiring an additional 1,672 shares in the last quarter. Lakewood Asset Management LLC grew its stake in Pangaea Logistics Solutions by 8.4% during the 3rd quarter. Lakewood Asset Management LLC now owns 36,337 shares of the shipping company's stock worth $263,000 after buying an additional 2,830 shares during the last quarter. Algert Global LLC increased its holdings in shares of Pangaea Logistics Solutions by 20.1% in the 2nd quarter. Algert Global LLC now owns 18,215 shares of the shipping company's stock valued at $143,000 after acquiring an additional 3,044 shares during the period. Finally, Quarry LP purchased a new stake in Pangaea Logistics Solutions in the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 60.23% of the company's stock.

Pangaea Logistics Solutions Company 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.

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