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 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. Based on an average daily volume of 238,700 shares, the days-to-cover ratio is currently 3.7 days. Approximately 3.0% of the shares of the company are sold short.

Institutional Trading of Pangaea Logistics Solutions

Several institutional investors and hedge funds have recently modified their holdings of PANL. Dimensional Fund Advisors LP raised its position in Pangaea Logistics Solutions by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,060,392 shares of the shipping company’s stock valued at $11,044,000 after purchasing an additional 105,965 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Pangaea Logistics Solutions by 7.1% during the fourth 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 during the last quarter. Royce & Associates LP lifted its holdings in shares of Pangaea Logistics Solutions by 24.0% during the fourth quarter. Royce & Associates LP now owns 960,102 shares of the shipping company’s stock worth $5,146,000 after purchasing an additional 185,650 shares during the period. American Century Companies Inc. grew its stake in shares of Pangaea Logistics Solutions by 12.4% in the fourth quarter. American Century Companies Inc. now owns 928,044 shares of the shipping company’s stock worth $4,974,000 after purchasing an additional 102,653 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Pangaea Logistics Solutions by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 851,931 shares of the shipping company’s stock valued at $4,568,000 after purchasing an additional 14,104 shares during the period. 60.23% of the stock is currently owned by institutional investors.

Pangaea Logistics Solutions Price Performance

NASDAQ PANL traded up $0.03 during midday trading on Tuesday, hitting $4.79. The company had a trading volume of 186,237 shares, compared to its average volume of 184,652. The company has a current ratio of 2.05, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72. Pangaea Logistics Solutions has a twelve month low of $4.67 and a twelve month high of $8.32. The company has a market capitalization of $314.36 million, a PE ratio of 10.19 and a beta of 0.84. The firm has a 50-day moving average price of $5.20 and a 200-day moving average price of $5.74.

Pangaea Logistics Solutions Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.