Koss Olinger Consulting LLC Decreases Holdings in Pangaea Logistics Solutions Ltd. $PANL

Koss Olinger Consulting LLC cut its holdings in shares of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) by 6.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 108,199 shares of the shipping company’s stock after selling 7,830 shares during the quarter. Koss Olinger Consulting LLC owned 0.16% of Pangaea Logistics Solutions worth $509,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PANL. Royce & Associates LP raised its stake in shares of Pangaea Logistics Solutions by 21.5% during the first quarter. Royce & Associates LP now owns 1,166,677 shares of the shipping company’s stock worth $5,553,000 after acquiring an additional 206,575 shares in the last quarter. Nuveen LLC purchased a new position in shares of Pangaea Logistics Solutions during the first quarter worth approximately $539,000. American Century Companies Inc. raised its stake in shares of Pangaea Logistics Solutions by 8.7% during the first quarter. American Century Companies Inc. now owns 1,008,916 shares of the shipping company’s stock worth $4,802,000 after acquiring an additional 80,872 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of Pangaea Logistics Solutions during the first quarter worth approximately $195,000. Finally, Walleye Capital LLC purchased a new position in shares of Pangaea Logistics Solutions during the first quarter worth approximately $132,000. 60.23% of the stock is owned by hedge funds and other institutional investors.

Pangaea Logistics Solutions Stock Down 1.0%

Shares of Pangaea Logistics Solutions stock opened at $4.78 on Tuesday. The company has a current ratio of 1.46, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. The company’s fifty day simple moving average is $5.17 and its two-hundred day simple moving average is $4.84. The company has a market cap of $311.86 million, a P/E ratio of 21.73 and a beta of 0.72. Pangaea Logistics Solutions Ltd. has a 12-month low of $3.93 and a 12-month high of $6.80.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings data on Thursday, August 7th. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The business had revenue of $156.69 million for the quarter, compared to the consensus estimate of $129.24 million. Pangaea Logistics Solutions had a net margin of 1.52% and a return on equity of 3.38%. Research analysts anticipate that Pangaea Logistics Solutions Ltd. will post 0.43 EPS for the current year.

Pangaea Logistics Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. Pangaea Logistics Solutions’s payout ratio is presently 90.91%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wall Street Zen raised shares of Pangaea Logistics Solutions from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research note on Wednesday, October 8th. Finally, B. Riley decreased their target price on shares of Pangaea Logistics Solutions from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Monday, August 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Pangaea Logistics Solutions has an average rating of “Moderate Buy” and an average price target of $9.00.

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.