Pangaea Logistics Solutions Ltd. $PANL Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC raised its position in Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) by 33.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 746,100 shares of the shipping company’s stock after purchasing an additional 185,100 shares during the period. Renaissance Technologies LLC owned 1.14% of Pangaea Logistics Solutions worth $5,282,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in shares of Pangaea Logistics Solutions by 13.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,884,470 shares of the shipping company’s stock worth $20,421,000 after purchasing an additional 351,385 shares during the last quarter. Cable Car Capital LP increased its holdings in Pangaea Logistics Solutions by 2.1% in the second quarter. Cable Car Capital LP now owns 985,623 shares of the shipping company’s stock valued at $4,632,000 after buying an additional 20,000 shares during the last quarter. Bridgeway Capital Management LLC raised its stake in Pangaea Logistics Solutions by 4.3% in the second quarter. Bridgeway Capital Management LLC now owns 707,479 shares of the shipping company’s stock valued at $3,325,000 after buying an additional 29,260 shares in the last quarter. Millennium Management LLC raised its stake in Pangaea Logistics Solutions by 1,846.9% in the fourth quarter. Millennium Management LLC now owns 438,987 shares of the shipping company’s stock valued at $3,020,000 after buying an additional 416,439 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in Pangaea Logistics Solutions by 7.3% during the 1st quarter. Empowered Funds LLC now owns 381,919 shares of the shipping company’s stock worth $1,818,000 after buying an additional 25,851 shares during the last quarter. 60.23% of the stock is currently owned by institutional investors and hedge funds.

Pangaea Logistics Solutions Trading Down 2.4%

NASDAQ PANL opened at $7.24 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.37. The firm’s fifty day moving average price is $7.27 and its 200 day moving average price is $7.70. The company has a market capitalization of $473.64 million, a price-to-earnings ratio of 13.16 and a beta of 0.79. Pangaea Logistics Solutions Ltd. has a 12 month low of $4.54 and a 12 month high of $9.39.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its quarterly earnings results on Monday, May 11th. The shipping company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.05 by $0.06. Pangaea Logistics Solutions had a net margin of 5.10% and a return on equity of 5.71%. The firm had revenue of $170.58 million for the quarter, compared to analyst estimates of $165.78 million. On average, sell-side analysts expect that Pangaea Logistics Solutions Ltd. will post 0.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on PANL. Wall Street Zen raised Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Weiss Ratings lowered Pangaea Logistics Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Pangaea Logistics Solutions has a consensus rating of “Hold” and a consensus price target of $9.00.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions Ltd. is a global transportation and logistics company that provides ocean transportation and integrated logistics services. The company operates a fleet of drybulk vessels, including Handysize, Supramax and Ultramax carriers, to transport commodities such as coal, grain, minerals, ores and steel products. In parallel, Pangaea offers asset-light logistics solutions spanning freight forwarding, supply chain management and project cargo services, enabling end-to-end transport for bulk and breakbulk shipments.

Founded in 2012 as a spin-off from an established maritime shipping group, Pangaea Logistics Solutions went public on the Nasdaq in 2013 under the ticker PANL.