Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Major Shareholder Sells $18,960.00 in Stock

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) major shareholder One Acquisition Holdin Pangaea sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, March 31st. The stock was sold at an average price of $3.16, for a total value of $18,960.00. Following the completion of the sale, the insider now directly owns 56,818 shares of the company’s stock, valued at approximately $179,544.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

One Acquisition Holdin Pangaea also recently made the following trade(s):

  • On Monday, April 5th, One Acquisition Holdin Pangaea sold 9,242 shares of Pangaea Logistics Solutions stock. The stock was sold at an average price of $3.13, for a total value of $28,927.46.
  • On Wednesday, March 24th, One Acquisition Holdin Pangaea sold 2,649 shares of Pangaea Logistics Solutions stock. The stock was sold at an average price of $3.25, for a total value of $8,609.25.
  • On Monday, March 22nd, One Acquisition Holdin Pangaea sold 20,091 shares of Pangaea Logistics Solutions stock. The stock was sold at an average price of $3.35, for a total value of $67,304.85.
  • On Thursday, March 18th, One Acquisition Holdin Pangaea sold 269,175 shares of Pangaea Logistics Solutions stock. The stock was sold at an average price of $3.37, for a total value of $907,119.75.

Pangaea Logistics Solutions stock opened at $3.05 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.20 and a debt-to-equity ratio of 0.52. Pangaea Logistics Solutions, Ltd. has a 52 week low of $1.84 and a 52 week high of $3.90. The company has a market capitalization of $139.13 million, a price-to-earnings ratio of 38.13 and a beta of 0.68. The stock has a 50-day moving average price of $3.17 and a 200 day moving average price of $2.90.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its earnings results on Tuesday, March 16th. The shipping company reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.06. Pangaea Logistics Solutions had a positive return on equity of 5.14% and a negative net margin of 0.16%. During the same quarter in the prior year, the business earned $0.11 earnings per share. Research analysts anticipate that Pangaea Logistics Solutions, Ltd. will post 0.3 EPS for the current fiscal year.

Separately, Zacks Investment Research raised Pangaea Logistics Solutions from a “sell” rating to a “hold” rating in a report on Friday, March 5th.

A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in Pangaea Logistics Solutions by 247.1% during the fourth quarter. JPMorgan Chase & Co. now owns 31,745 shares of the shipping company’s stock valued at $88,000 after acquiring an additional 22,600 shares in the last quarter. Rhumbline Advisers purchased a new position in Pangaea Logistics Solutions during the fourth quarter valued at approximately $34,000. Bank of New York Mellon Corp raised its position in Pangaea Logistics Solutions by 56.2% during the fourth quarter. Bank of New York Mellon Corp now owns 37,598 shares of the shipping company’s stock valued at $104,000 after acquiring an additional 13,523 shares in the last quarter. Finally, BlackRock Inc. raised its position in Pangaea Logistics Solutions by 20.6% during the fourth quarter. BlackRock Inc. now owns 488,127 shares of the shipping company’s stock valued at $1,352,000 after acquiring an additional 83,426 shares in the last quarter. Institutional investors own 30.02% of the company’s stock.

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. 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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