Renaissance Technologies LLC Raises Stock Holdings in Pangaea Logistics Solutions Ltd. $PANL

Renaissance Technologies LLC grew its position in Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) by 33.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 746,100 shares of the shipping company’s stock after acquiring an additional 185,100 shares during the quarter. Renaissance Technologies LLC’s holdings in Pangaea Logistics Solutions were worth $5,282,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. LOM Asset Management Ltd purchased a new stake in Pangaea Logistics Solutions in the 4th quarter valued at $34,000. BNP Paribas Financial Markets grew its position in Pangaea Logistics Solutions by 89.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock worth $31,000 after purchasing an additional 2,864 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in Pangaea Logistics Solutions in the fourth quarter valued at $53,000. Tower Research Capital LLC TRC increased its stake in Pangaea Logistics Solutions by 110.0% in the second quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company’s stock valued at $43,000 after purchasing an additional 4,825 shares during the period. Finally, Algert Global LLC purchased a new stake in shares of Pangaea Logistics Solutions in the third quarter valued at about $53,000. 60.23% of the stock is owned by institutional investors and hedge funds.

Pangaea Logistics Solutions Stock Down 2.4%

Shares of Pangaea Logistics Solutions stock opened at $7.24 on Thursday. Pangaea Logistics Solutions Ltd. has a one year low of $4.54 and a one year high of $9.39. The company has a market cap of $473.64 million, a P/E ratio of 13.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.63. The firm has a fifty day moving average of $7.27 and a two-hundred day moving average of $7.70.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its earnings results on Monday, May 11th. The shipping company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.06. The business had revenue of $170.58 million for the quarter, compared to the consensus estimate of $165.78 million. Pangaea Logistics Solutions had a net margin of 5.10% and a return on equity of 5.71%. On average, analysts forecast that Pangaea Logistics Solutions Ltd. will post 0.71 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PANL. Wall Street Zen upgraded shares of Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded Pangaea Logistics Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Pangaea Logistics Solutions currently has a consensus rating of “Hold” and a consensus price target of $9.00.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions Ltd. is a global transportation and logistics company that provides ocean transportation and integrated logistics services. The company operates a fleet of drybulk vessels, including Handysize, Supramax and Ultramax carriers, to transport commodities such as coal, grain, minerals, ores and steel products. In parallel, Pangaea offers asset-light logistics solutions spanning freight forwarding, supply chain management and project cargo services, enabling end-to-end transport for bulk and breakbulk shipments.

Founded in 2012 as a spin-off from an established maritime shipping group, Pangaea Logistics Solutions went public on the Nasdaq in 2013 under the ticker PANL.