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.
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.
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