Short Interest in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Expands By 17.1%

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Get Free Report) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 378,900 shares, an increase of 17.1% from the October 15th total of 323,500 shares. Based on an average daily volume of 146,900 shares, the days-to-cover ratio is presently 2.6 days. Approximately 1.3% of the shares of the stock are short sold.

Analyst Ratings Changes

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

Pangaea Logistics Solutions Price Performance

PANL traded down $0.11 during trading on Friday, hitting $6.30. 127,643 shares of the stock traded hands, compared to its average volume of 168,094. The business has a 50 day moving average price of $6.58 and a 200 day moving average price of $7.08. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.82. Pangaea Logistics Solutions has a twelve month low of $6.09 and a twelve month high of $9.52. The company has a market cap of $295.48 million, a price-to-earnings ratio of 13.40 and a beta of 0.87.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 6.35%. The ex-dividend date of this dividend is Friday, November 29th. Pangaea Logistics Solutions's payout ratio is 85.11%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in Pangaea Logistics Solutions by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,853,611 shares of the shipping company's stock worth $14,514,000 after purchasing an additional 112,298 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Pangaea Logistics Solutions by 131.7% during the second quarter. AQR Capital Management LLC now owns 265,177 shares of the shipping company's stock worth $2,076,000 after buying an additional 150,713 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Pangaea Logistics Solutions in the 2nd quarter valued at $270,000. Lazard Asset Management LLC acquired a new stake in shares of Pangaea Logistics Solutions during the 1st quarter valued at $61,000. Finally, Price T Rowe Associates Inc. MD grew its position in Pangaea Logistics Solutions by 50.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 27,998 shares of the shipping company's stock worth $196,000 after acquiring an additional 9,352 shares during the last quarter. 60.23% of the stock is currently owned by institutional investors and hedge funds.

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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