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

Tidal Investments LLC trimmed its holdings in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 14.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,658 shares of the shipping company’s stock after selling 3,375 shares during the period. Tidal Investments LLC’s holdings in Pangaea Logistics Solutions were worth $149,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Pangaea Logistics Solutions by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,853,611 shares of the shipping company’s stock worth $14,514,000 after acquiring an additional 112,298 shares during the period. AQR Capital Management LLC raised its stake in Pangaea Logistics Solutions by 131.7% during the second quarter. AQR Capital Management LLC now owns 265,177 shares of the shipping company’s stock worth $2,076,000 after purchasing an additional 150,713 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Pangaea Logistics Solutions in the 3rd quarter valued at $761,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Pangaea Logistics Solutions during the 2nd quarter valued at $270,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Pangaea Logistics Solutions by 16.7% during the 3rd quarter. Victory Capital Management Inc. now owns 142,917 shares of the shipping company’s stock worth $1,033,000 after buying an additional 20,498 shares during the last quarter. Hedge funds and other institutional investors own 60.23% of the company’s stock.

Pangaea Logistics Solutions Price Performance

Pangaea Logistics Solutions stock opened at $5.01 on Thursday. The firm has a fifty day moving average of $5.92 and a 200-day moving average of $6.64. Pangaea Logistics Solutions, Ltd. has a 52-week low of $4.82 and a 52-week high of $9.52. 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 $234.98 million, a P/E ratio of 10.66 and a beta of 0.84.

Pangaea Logistics Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.10 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 7.98%. Pangaea Logistics Solutions’s dividend payout ratio is currently 85.11%.

Analyst Upgrades and Downgrades

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

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.