Cable Car Capital LLC purchased a new stake in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 885,749 shares of the shipping company's stock, valued at approximately $7,299,000. Pangaea Logistics Solutions makes up approximately 8.1% of Cable Car Capital LLC's portfolio, making the stock its 3rd largest holding. Cable Car Capital LLC owned approximately 1.91% of Pangaea Logistics Solutions as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC acquired a new stake in Pangaea Logistics Solutions during the third quarter worth about $357,000. WINTON GROUP Ltd grew its stake in Pangaea Logistics Solutions by 35.7% during the third quarter. WINTON GROUP Ltd now owns 64,034 shares of the shipping company's stock worth $377,000 after buying an additional 16,847 shares in the last quarter. Brandywine Global Investment Management LLC grew its stake in Pangaea Logistics Solutions by 11.1% during the third quarter. Brandywine Global Investment Management LLC now owns 21,878 shares of the shipping company's stock worth $129,000 after buying an additional 2,180 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Pangaea Logistics Solutions during the third quarter worth about $108,000. Finally, SG Americas Securities LLC grew its stake in Pangaea Logistics Solutions by 11.8% during the fourth quarter. SG Americas Securities LLC now owns 56,332 shares of the shipping company's stock worth $464,000 after buying an additional 5,963 shares in the last quarter. 60.23% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on PANL. StockNews.com upgraded shares of Pangaea Logistics Solutions from a "hold" rating to a "buy" rating in a research note on Friday, May 10th. Alliance Global Partners raised shares of Pangaea Logistics Solutions from a "neutral" rating to a "buy" rating and set a $10.25 target price for the company in a report on Monday, May 13th.
Get Our Latest Report on PANL
Pangaea Logistics Solutions Price Performance
Shares of PANL stock traded down $0.30 on Friday, reaching $7.43. The company had a trading volume of 167,833 shares, compared to its average volume of 141,840. The stock has a market capitalization of $348.02 million, a PE ratio of 9.78 and a beta of 0.86. The company has a quick ratio of 1.75, a current ratio of 1.97 and a debt-to-equity ratio of 0.54. Pangaea Logistics Solutions, Ltd. has a one year low of $5.28 and a one year high of $9.52. The business's 50-day moving average is $7.47 and its 200 day moving average is $7.79.
Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last posted its earnings results on Thursday, May 9th. The shipping company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.05. The firm had revenue of $104.75 million during the quarter, compared to analysts' expectations of $117.47 million. Pangaea Logistics Solutions had a net margin of 7.04% and a return on equity of 8.86%. During the same quarter in the prior year, the business earned $0.11 earnings per share. Equities research analysts forecast that Pangaea Logistics Solutions, Ltd. will post 0.73 EPS for the current fiscal year.
Pangaea Logistics Solutions Announces Dividend
The business 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. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.38%. Pangaea Logistics Solutions's dividend payout ratio (DPR) is currently 52.63%.
Pangaea Logistics Solutions Profile
(
Free Report)
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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