Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Shares Sold by Tidal Investments LLC

Tidal Investments LLC reduced its position in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 14.0% during the third quarter, HoldingsChannel reports. The firm owned 20,658 shares of the shipping company’s stock after selling 3,375 shares during the quarter. Tidal Investments LLC’s holdings in Pangaea Logistics Solutions were worth $149,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its holdings in Pangaea Logistics Solutions by 21.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 42,165 shares of the shipping company’s stock worth $330,000 after buying an additional 7,494 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Pangaea Logistics Solutions by 6.7% in the second quarter. Principal Financial Group Inc. now owns 24,047 shares of the shipping company’s stock worth $188,000 after acquiring an additional 1,514 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Pangaea Logistics Solutions by 29.9% in the second quarter. Victory Capital Management Inc. now owns 122,419 shares of the shipping company’s stock valued at $959,000 after purchasing an additional 28,163 shares during the last quarter. Acadian Asset Management LLC grew its stake in Pangaea Logistics Solutions by 9.8% during the 2nd quarter. Acadian Asset Management LLC now owns 343,001 shares of the shipping company’s stock valued at $2,682,000 after purchasing an additional 30,689 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Pangaea Logistics Solutions by 14.1% during the 2nd quarter. American Century Companies Inc. now owns 725,829 shares of the shipping company’s stock worth $5,683,000 after purchasing an additional 89,570 shares during the last quarter. 60.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a research note on Friday, November 15th.

Pangaea Logistics Solutions Stock Performance

Shares of NASDAQ PANL opened at $5.01 on Thursday. Pangaea Logistics Solutions, Ltd. has a 12-month low of $4.82 and a 12-month high of $9.52. The company has a current ratio of 2.05, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72. The company has a market cap of $234.98 million, a PE ratio of 10.66 and a beta of 0.84. The stock has a 50 day simple moving average of $5.92 and a 200-day simple moving average of $6.64.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.98%. The ex-dividend date of this dividend was Friday, November 29th. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is 85.11%.

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.