Renaissance Technologies LLC Sells 67,400 Shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

Renaissance Technologies LLC decreased its position in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Free Report) by 10.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 549,900 shares of the shipping company's stock after selling 67,400 shares during the quarter. Renaissance Technologies LLC owned about 0.85% of Pangaea Logistics Solutions worth $2,947,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in PANL. Geode Capital Management LLC lifted its stake in Pangaea Logistics Solutions by 7.8% during the third quarter. Geode Capital Management LLC now owns 837,827 shares of the shipping company's stock valued at $6,059,000 after purchasing an additional 60,841 shares during the last quarter. Barclays PLC raised its holdings in Pangaea Logistics Solutions by 271.4% during the third quarter. Barclays PLC now owns 46,899 shares of the shipping company's stock valued at $339,000 after buying an additional 34,273 shares in the last quarter. State Street Corp boosted its position in 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 during the period. Empowered Funds LLC lifted its position in Pangaea Logistics Solutions by 5.1% during the 4th quarter. Empowered Funds LLC now owns 356,068 shares of the shipping company's stock worth $1,909,000 after acquiring an additional 17,389 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Pangaea Logistics Solutions by 7.9% during the third quarter. Jane Street Group LLC now owns 61,728 shares of the shipping company's stock worth $446,000 after buying an additional 4,499 shares during the last quarter. Institutional investors and hedge funds own 60.23% of the company's stock.

Analyst Upgrades and Downgrades

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

Pangaea Logistics Solutions Stock Performance

PANL traded down $0.14 during trading on Monday, hitting $4.09. The stock had a trading volume of 95,995 shares, compared to its average volume of 240,203. The company has a 50 day moving average price of $4.77 and a 200-day moving average price of $5.37. Pangaea Logistics Solutions, Ltd. has a one year low of $3.93 and a one year high of $8.32. The firm has a market cap of $268.09 million, a price-to-earnings ratio of 8.70 and a beta of 0.68. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.77.

Pangaea Logistics Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 9.79%. The ex-dividend date of this dividend was Friday, February 28th. Pangaea Logistics Solutions's payout ratio is 64.52%.

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.