Short Interest in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Increases By 28.6%

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Get Free Report) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 874,600 shares, a growth of 28.6% from the February 28th total of 680,000 shares. Approximately 3.0% of the company's shares are short sold. Based on an average daily volume of 238,700 shares, the days-to-cover ratio is currently 3.7 days.

Pangaea Logistics Solutions Trading Down 5.9 %

Shares of Pangaea Logistics Solutions stock traded down $0.26 on Friday, reaching $4.11. The company had a trading volume of 385,158 shares, compared to its average volume of 184,829. The firm's 50 day moving average price is $5.15 and its two-hundred day moving average price is $5.72. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.05. Pangaea Logistics Solutions has a 52-week low of $3.93 and a 52-week high of $8.32. The firm has a market cap of $269.73 million, a PE ratio of 8.74 and a beta of 0.84.

Pangaea Logistics Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 9.73%. The ex-dividend date of this dividend was Friday, February 28th. Pangaea Logistics Solutions's payout ratio is 64.52%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in Pangaea Logistics Solutions by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 837,827 shares of the shipping company's stock worth $6,059,000 after acquiring an additional 60,841 shares in the last quarter. Barclays PLC increased its stake in Pangaea Logistics Solutions by 271.4% during the third quarter. Barclays PLC now owns 46,899 shares of the shipping company's stock worth $339,000 after purchasing an additional 34,273 shares during the period. State Street Corp lifted its position in shares of Pangaea Logistics Solutions by 0.8% during the third quarter. State Street Corp now owns 577,110 shares of the shipping company's stock worth $4,173,000 after purchasing an additional 4,564 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Pangaea Logistics Solutions by 5.1% in the fourth quarter. Empowered Funds LLC now owns 356,068 shares of the shipping company's stock valued at $1,909,000 after purchasing an additional 17,389 shares during the period. Finally, Jane Street Group LLC grew its holdings in shares of Pangaea Logistics Solutions by 7.9% in the third quarter. Jane Street Group LLC now owns 61,728 shares of the shipping company's stock valued at $446,000 after purchasing an additional 4,499 shares in the last quarter. 60.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com upgraded Pangaea Logistics Solutions from a "sell" rating to a "hold" rating in a report on Tuesday, March 25th.

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.