Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Sees Large Growth in Short Interest

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 874,600 shares, a growth of 28.6% from the February 28th total of 680,000 shares. Currently, 3.0% of the company’s shares are short sold. Based on an average daily volume of 238,700 shares, the days-to-cover ratio is presently 3.7 days.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Pangaea Logistics Solutions from a “sell” rating to a “hold” rating in a research report on Tuesday, March 25th.

Hedge Funds Weigh In On Pangaea Logistics Solutions

A number of institutional investors and hedge funds have recently modified their holdings of PANL. Wellington Management Group LLP increased its stake in shares of Pangaea Logistics Solutions by 7.1% in the 4th quarter. Wellington Management Group LLP now owns 1,596,743 shares of the shipping company’s stock valued at $8,559,000 after acquiring an additional 105,200 shares in the last quarter. Mackenzie Financial Corp increased its stake in Pangaea Logistics Solutions by 220.2% in the fourth quarter. Mackenzie Financial Corp now owns 63,727 shares of the shipping company’s stock valued at $342,000 after purchasing an additional 43,823 shares in the last quarter. PharVision Advisers LLC acquired a new position in shares of Pangaea Logistics Solutions during the fourth quarter valued at about $300,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Pangaea Logistics Solutions during the 4th quarter worth about $59,000. Finally, Deutsche Bank AG acquired a new stake in shares of Pangaea Logistics Solutions in the 4th quarter valued at about $153,000. 60.23% of the stock is currently owned by institutional investors.

Pangaea Logistics Solutions Trading Up 0.6 %

Pangaea Logistics Solutions stock traded up $0.03 during trading hours on Tuesday, reaching $4.79. 186,237 shares of the company’s stock were exchanged, compared to its average volume of 184,652. The firm’s 50 day simple moving average is $5.20 and its 200 day simple moving average is $5.74. Pangaea Logistics Solutions has a twelve month low of $4.67 and a twelve month high of $8.32. The company has a quick ratio of 1.77, a current ratio of 2.05 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $314.36 million, a PE ratio of 10.19 and a beta of 0.84.

Pangaea Logistics Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a yield of 8.35%. Pangaea Logistics Solutions’s payout ratio is currently 64.52%.

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.