Raymond James & Associates Has $119,000 Stock Position in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

Raymond James & Associates lessened its holdings in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 26.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,385 shares of the shipping company’s stock after selling 5,100 shares during the quarter. Raymond James & Associates’ holdings in Pangaea Logistics Solutions were worth $119,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Astoria Portfolio Advisors LLC. acquired a new position in shares of Pangaea Logistics Solutions during the 3rd quarter worth approximately $76,000. Quadrature Capital Ltd acquired a new position in shares of Pangaea Logistics Solutions in the third quarter valued at $108,000. Brandywine Global Investment Management LLC raised its position in shares of Pangaea Logistics Solutions by 11.1% in the third quarter. Brandywine Global Investment Management LLC now owns 21,878 shares of the shipping company’s stock valued at $129,000 after purchasing an additional 2,180 shares during the period. WealthTrust Axiom LLC lifted its stake in shares of Pangaea Logistics Solutions by 52.6% during the 3rd quarter. WealthTrust Axiom LLC now owns 24,656 shares of the shipping company’s stock worth $145,000 after buying an additional 8,500 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Pangaea Logistics Solutions by 39.2% during the 3rd quarter. SG Americas Securities LLC now owns 50,369 shares of the shipping company’s stock worth $296,000 after buying an additional 14,194 shares during the period. Institutional investors own 60.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. StockNews.com downgraded shares of Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Alliance Global Partners cut Pangaea Logistics Solutions from a “buy” rating to a “neutral” rating and set a $8.75 price objective on the stock. in a research report on Monday, February 5th.

Pangaea Logistics Solutions Stock Performance

Shares of NASDAQ:PANL opened at $7.18 on Thursday. Pangaea Logistics Solutions, Ltd. has a 12-month low of $5.28 and a 12-month high of $9.52. The company’s 50 day moving average price is $7.31 and its two-hundred day moving average price is $7.47. The firm has a market cap of $335.45 million, a PE ratio of 12.17 and a beta of 0.85. The company has a quick ratio of 1.66, a current ratio of 1.82 and a debt-to-equity ratio of 0.57.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings results on Wednesday, March 13th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.28). The company had revenue of $131.88 million for the quarter, compared to analyst estimates of $152.31 million. Pangaea Logistics Solutions had a return on equity of 8.54% and a net margin of 5.27%. During the same period in the prior year, the company earned $0.32 EPS. Equities research analysts predict that Pangaea Logistics Solutions, Ltd. will post 0.87 earnings per share for the current year.

Pangaea Logistics Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 5.57%. The ex-dividend date was Thursday, February 29th. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 67.80%.

About Pangaea Logistics Solutions

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.