Citadel Advisors LLC Acquires New Stake in Pangaea Logistics Solutions Ltd (NASDAQ:PANL)

Share on StockTwits

Citadel Advisors LLC acquired a new stake in Pangaea Logistics Solutions Ltd (NASDAQ:PANL) in the second quarter, Holdings Channel reports. The firm acquired 10,325 shares of the shipping company’s stock, valued at approximately $35,000.

Separately, BlackRock Inc. increased its holdings in Pangaea Logistics Solutions by 132.5% in the second quarter. BlackRock Inc. now owns 56,094 shares of the shipping company’s stock valued at $188,000 after purchasing an additional 31,969 shares during the period. 26.17% of the stock is owned by institutional investors and hedge funds.

PANL has been the subject of a number of recent research reports. ValuEngine upgraded Pangaea Logistics Solutions from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded Pangaea Logistics Solutions from a “sell” rating to a “hold” rating in a report on Friday, October 4th.

NASDAQ PANL opened at $3.22 on Friday. The company has a market capitalization of $144.02 million, a price-to-earnings ratio of 6.08 and a beta of 0.30. Pangaea Logistics Solutions Ltd has a twelve month low of $2.71 and a twelve month high of $4.35. The stock has a fifty day simple moving average of $3.19 and a 200 day simple moving average of $3.34. The company has a quick ratio of 1.17, a current ratio of 1.44 and a debt-to-equity ratio of 0.66.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings data on Monday, August 12th. The shipping company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.11). The company had revenue of $83.29 million during the quarter, compared to analyst estimates of $109.72 million. Pangaea Logistics Solutions had a net margin of 4.28% and a return on equity of 8.39%. During the same quarter in the previous year, the company earned $0.13 earnings per share. Research analysts expect that Pangaea Logistics Solutions Ltd will post 0.6 earnings per share for the current fiscal year.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. The company offers various dry bulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.

Recommended Story: Consumer Price Index (CPI)

Want to see what other hedge funds are holding PANL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pangaea Logistics Solutions Ltd (NASDAQ:PANL).

Institutional Ownership by Quarter for Pangaea Logistics Solutions (NASDAQ:PANL)

Receive News & Ratings for Pangaea Logistics Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pangaea Logistics Solutions and related companies with MarketBeat.com's FREE daily email newsletter.