Bailard Inc. Acquires Shares of 31,800 Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

Bailard Inc. bought a new position in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 31,800 shares of the shipping company’s stock, valued at approximately $262,000. Bailard Inc. owned about 0.07% of Pangaea Logistics Solutions at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Janney Montgomery Scott LLC bought a new position in Pangaea Logistics Solutions in the 3rd quarter worth approximately $357,000. Bank of New York Mellon Corp increased its stake in shares of Pangaea Logistics Solutions by 21.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 125,158 shares of the shipping company’s stock valued at $736,000 after buying an additional 22,005 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Pangaea Logistics Solutions during the third quarter worth $108,000. WINTON GROUP Ltd lifted its stake in shares of Pangaea Logistics Solutions by 35.7% during the third quarter. WINTON GROUP Ltd now owns 64,034 shares of the shipping company’s stock valued at $377,000 after acquiring an additional 16,847 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in Pangaea Logistics Solutions by 39.2% in the third quarter. SG Americas Securities LLC now owns 50,369 shares of the shipping company’s stock valued at $296,000 after acquiring an additional 14,194 shares during the last quarter. 60.23% of the stock is currently owned by institutional investors and hedge funds.

Pangaea Logistics Solutions Stock Performance

PANL stock opened at $7.00 on Monday. 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, Ltd. has a twelve month low of $5.28 and a twelve month high of $9.52. The business’s fifty day moving average is $7.38 and its 200-day moving average is $7.45. The company has a market cap of $327.04 million, a P/E ratio of 11.86 and a beta of 0.85.

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

Pangaea Logistics Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date was Thursday, February 29th. Pangaea Logistics Solutions’s dividend payout ratio is currently 67.80%.

Analyst Ratings Changes

Several analysts have weighed in on PANL shares. Alliance Global Partners cut Pangaea Logistics Solutions from a “buy” rating to a “neutral” rating and set a $8.75 price objective for the company. in a report on Monday, February 5th. 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 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.