Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Major Shareholder Sells $28,927.46 in Stock

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) major shareholder One Acquisition Holdin Pangaea sold 9,242 shares of the business’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $3.13, for a total value of $28,927.46. Following the completion of the transaction, the insider now directly owns 56,818 shares of the company’s stock, valued at approximately $177,840.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 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 Wednesday, March 31st, One Acquisition Holdin Pangaea sold 6,000 shares of Pangaea Logistics Solutions stock. The stock was sold at an average price of $3.16, for a total value of $18,960.00.
  • 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.

NASDAQ:PANL opened at $3.05 on Thursday. Pangaea Logistics Solutions, Ltd. has a 12 month low of $1.84 and a 12 month high of $3.90. The stock has a 50 day moving average of $3.17 and a two-hundred day moving average of $2.90. The company has a current ratio of 1.20, a quick ratio of 1.01 and a debt-to-equity ratio of 0.52. The firm has a market cap of $139.13 million, a P/E ratio of 38.13 and a beta of 0.68.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings data on Tuesday, March 16th. The shipping company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ 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 last year, the company posted $0.11 earnings per share. On average, research analysts forecast that Pangaea Logistics Solutions, Ltd. will post 0.3 earnings per share for the current year.

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

Several hedge funds have recently bought and sold shares of PANL. BlackRock Inc. grew its position in shares of Pangaea Logistics Solutions by 118.2% in the third quarter. BlackRock Inc. now owns 404,701 shares of the shipping company’s stock valued at $1,048,000 after purchasing an additional 219,270 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Pangaea Logistics Solutions by 56.2% in 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 purchasing an additional 13,523 shares in the last quarter. Rhumbline Advisers purchased a new stake in shares of Pangaea Logistics Solutions in the fourth quarter valued at approximately $34,000. Finally, JPMorgan Chase & Co. grew its position in shares of Pangaea Logistics Solutions by 247.1% in the fourth quarter. JPMorgan Chase & Co. now owns 31,745 shares of the shipping company’s stock valued at $88,000 after purchasing an additional 22,600 shares in the last quarter. Institutional investors and hedge funds own 30.02% of the company’s stock.

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.

Further Reading: Arbitrage

Insider Buying and Selling by Quarter for Pangaea Logistics Solutions (NASDAQ:PANL)

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