Acadian Asset Management LLC Has $2.68 Million Stock Holdings in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

Acadian Asset Management LLC lifted its stake in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) by 9.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 343,001 shares of the shipping company’s stock after buying an additional 30,689 shares during the quarter. Acadian Asset Management LLC’s holdings in Pangaea Logistics Solutions were worth $2,682,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of PANL. Cable Car Capital LLC acquired a new stake in Pangaea Logistics Solutions in the 4th quarter worth about $7,299,000. Kingsview Wealth Management LLC acquired a new stake in Pangaea Logistics Solutions in the 1st quarter worth about $425,000. Janus Henderson Group PLC acquired a new stake in Pangaea Logistics Solutions in the 1st quarter worth about $256,000. Jump Financial LLC acquired a new stake in Pangaea Logistics Solutions in the 4th quarter worth about $302,000. Finally, Allspring Global Investments Holdings LLC raised its stake in Pangaea Logistics Solutions by 14,653.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 34,671 shares of the shipping company’s stock worth $242,000 after purchasing an additional 34,436 shares in the last quarter. Institutional investors and hedge funds own 60.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday.

Pangaea Logistics Solutions Price Performance

Shares of NASDAQ:PANL opened at $6.37 on Friday. The firm has a 50 day moving average of $6.86 and a 200-day moving average of $7.29. The stock has a market capitalization of $298.75 million, a PE ratio of 8.36 and a beta of 0.85. The company has a current ratio of 2.16, a quick ratio of 1.82 and a debt-to-equity ratio of 0.57. Pangaea Logistics Solutions, Ltd. has a 12 month low of $5.42 and a 12 month high of $9.52.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its earnings results on Thursday, August 8th. The shipping company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.05). The firm had revenue of $131.50 million during the quarter, compared to analyst estimates of $98.09 million. Pangaea Logistics Solutions had a net margin of 7.02% and a return on equity of 8.76%. During the same quarter in the previous year, the firm posted $0.10 earnings per share. On average, equities research analysts predict that Pangaea Logistics Solutions, Ltd. will post 0.76 EPS for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 2nd will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 6.28%. The ex-dividend date is Friday, August 30th. Pangaea Logistics Solutions’s payout ratio is presently 52.63%.

Pangaea Logistics Solutions 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.