Virtu Financial LLC Acquires New Stake in Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)

Virtu Financial LLC bought a new position in shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 11,006 shares of the shipping company’s stock, valued at approximately $59,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Commonwealth Equity Services LLC acquired a new position in shares of Pangaea Logistics Solutions in the fourth quarter worth approximately $55,000. Koss Olinger Consulting LLC bought a new stake in shares of Pangaea Logistics Solutions in the 4th quarter valued at $105,000. Hudson Valley Investment Advisors Inc. ADV acquired a new stake in shares of Pangaea Logistics Solutions during the fourth quarter worth $123,000. Barclays PLC raised its stake in Pangaea Logistics Solutions by 271.4% during the third quarter. Barclays PLC now owns 46,899 shares of the shipping company’s stock worth $339,000 after buying an additional 34,273 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in Pangaea Logistics Solutions by 7.9% in the third quarter. Jane Street Group LLC now owns 61,728 shares of the shipping company’s stock valued at $446,000 after buying an additional 4,499 shares during the period. Institutional investors own 60.23% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Pangaea Logistics Solutions Stock Performance

Shares of PANL stock opened at $4.76 on Tuesday. The firm has a 50 day moving average of $5.20 and a 200-day moving average of $5.74. The company has a market cap of $312.39 million, a price-to-earnings ratio of 10.13 and a beta of 0.84. The company has a quick ratio of 1.77, a current ratio of 2.05 and a debt-to-equity ratio of 0.72. Pangaea Logistics Solutions, Ltd. has a 52 week low of $4.67 and a 52 week high of $8.32.

Pangaea Logistics Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 8.40%. The ex-dividend date of this dividend was Friday, February 28th. Pangaea Logistics Solutions’s payout ratio is 64.52%.

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.