Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Sees Significant Increase in Short Interest

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 874,600 shares, an increase of 28.6% from the February 28th total of 680,000 shares. Based on an average daily trading volume, of 238,700 shares, the short-interest ratio is presently 3.7 days. Approximately 3.0% of the shares of the stock are short sold.

Institutional Investors Weigh In On Pangaea Logistics Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of PANL. Dimensional Fund Advisors LP increased its stake in Pangaea Logistics Solutions by 5.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,060,392 shares of the shipping company’s stock worth $11,044,000 after purchasing an additional 105,965 shares during the period. Wellington Management Group LLP grew its holdings in shares of Pangaea Logistics Solutions by 7.1% in the fourth quarter. Wellington Management Group LLP now owns 1,596,743 shares of the shipping company’s stock worth $8,559,000 after purchasing an additional 105,200 shares during the last quarter. Royce & Associates LP increased its stake in shares of Pangaea Logistics Solutions by 24.0% in the fourth quarter. Royce & Associates LP now owns 960,102 shares of the shipping company’s stock worth $5,146,000 after buying an additional 185,650 shares during the period. American Century Companies Inc. raised its holdings in Pangaea Logistics Solutions by 12.4% during the 4th quarter. American Century Companies Inc. now owns 928,044 shares of the shipping company’s stock valued at $4,974,000 after buying an additional 102,653 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Pangaea Logistics Solutions by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 851,931 shares of the shipping company’s stock valued at $4,568,000 after buying an additional 14,104 shares during the period. Institutional investors own 60.23% of the company’s stock.

Analyst Ratings Changes

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 Trading Down 2.1 %

Shares of PANL stock traded down $0.10 on Monday, hitting $4.76. 298,334 shares of the company’s stock traded hands, compared to its average volume of 230,685. The stock has a market capitalization of $312.39 million, a price-to-earnings ratio of 10.13 and a beta of 0.84. The company’s fifty day simple moving average is $5.22 and its 200 day simple moving average is $5.75. Pangaea Logistics Solutions has a one year low of $4.67 and a one year high of $8.32. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.40%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is currently 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.