Pangaea Logistics Solutions (NASDAQ:PANL) issued its quarterly earnings data on Wednesday. The shipping company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02, RTT News reports. Pangaea Logistics Solutions had a return on equity of 10.32% and a net margin of 4.76%. The business had revenue of $101.83 million for the quarter, compared to the consensus estimate of $100.02 million. During the same period in the prior year, the business posted $0.09 earnings per share.
Shares of NASDAQ PANL opened at $3.26 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.25 and a debt-to-equity ratio of 0.64. The firm has a market cap of $150.65 million, a price-to-earnings ratio of 6.15 and a beta of 0.28. Pangaea Logistics Solutions has a 12-month low of $2.35 and a 12-month high of $3.90.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Price Wealth Management Inc. bought a new stake in Pangaea Logistics Solutions during the 4th quarter valued at $45,000. Renaissance Technologies LLC bought a new stake in Pangaea Logistics Solutions during the 3rd quarter valued at $111,000. Finally, Dimensional Fund Advisors LP boosted its position in Pangaea Logistics Solutions by 85.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 81,195 shares of the shipping company’s stock valued at $284,000 after acquiring an additional 37,370 shares in the last quarter. 27.03% of the stock is currently owned by institutional investors and hedge funds.
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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