Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) Major Shareholder Sells $169,646.62 in Stock

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) major shareholder One Acquisition Holdin Pangaea sold 56,738 shares of the company’s stock in a transaction dated Monday, April 19th. The shares were sold at an average price of $2.99, for a total transaction of $169,646.62. Following the completion of the transaction, the insider now owns 56,818 shares in the company, valued at $169,885.82. The transaction was disclosed in a filing with the SEC, which is available at this link. Large 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 Wednesday, April 21st, One Acquisition Holdin Pangaea sold 438,612 shares of Pangaea Logistics Solutions stock. The stock was sold at an average price of $2.96, for a total transaction of $1,298,291.52.
  • On Friday, April 16th, One Acquisition Holdin Pangaea sold 250,000 shares of Pangaea Logistics Solutions stock. The stock was sold at an average price of $2.94, for a total transaction of $735,000.00.
  • On Wednesday, April 14th, One Acquisition Holdin Pangaea sold 7,557 shares of Pangaea Logistics Solutions stock. The stock was sold at an average price of $3.00, for a total transaction of $22,671.00.
  • On Monday, April 12th, One Acquisition Holdin Pangaea sold 14,100 shares of Pangaea Logistics Solutions stock. The stock was sold at an average price of $3.01, for a total transaction of $42,441.00.
  • On Friday, April 9th, One Acquisition Holdin Pangaea sold 37,458 shares of Pangaea Logistics Solutions stock. The stock was sold at an average price of $3.04, for a total transaction of $113,872.32.
  • On Wednesday, April 7th, One Acquisition Holdin Pangaea sold 15,069 shares of Pangaea Logistics Solutions stock. The stock was sold at an average price of $3.06, for a total transaction of $46,111.14.
  • 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 transaction of $28,927.46.
  • 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 transaction 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 transaction 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 transaction of $67,304.85.

PANL traded up $0.02 on Wednesday, reaching $3.00. 566,012 shares of the company’s stock were exchanged, compared to its average volume of 129,959. The company’s 50 day moving average is $3.14 and its 200-day moving average is $2.93. The company has a market cap of $136.85 million, a price-to-earnings ratio of 37.50 and a beta of 0.68. Pangaea Logistics Solutions, Ltd. has a twelve month low of $1.84 and a twelve month high of $3.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.01 and a current ratio of 1.20.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its earnings results on Tuesday, March 16th. The shipping company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.06. Pangaea Logistics Solutions had a negative net margin of 0.16% and a positive return on equity of 5.14%. The firm had revenue of $112.85 million during the quarter, compared to the consensus estimate of $98.05 million. During the same quarter in the prior year, the company earned $0.11 EPS. Sell-side analysts forecast that Pangaea Logistics Solutions, Ltd. will post 0.3 EPS for the current year.

Large investors have recently modified their holdings of the business. Rhumbline Advisers acquired a new stake in Pangaea Logistics Solutions in the fourth quarter valued at approximately $34,000. JPMorgan Chase & Co. grew its position in 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 acquiring an additional 22,600 shares in the last quarter. Bank of New York Mellon Corp grew its position in 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 acquiring an additional 13,523 shares in the last quarter. Finally, BlackRock Inc. grew its position in 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 acquiring an additional 219,270 shares in the last quarter. 30.02% of the stock is owned by institutional investors.

Separately, Zacks Investment Research raised shares of Pangaea Logistics Solutions from a “hold” rating to a “buy” rating and set a $3.25 target price for the company in a research report on Saturday.

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, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.

Read More: Retained Earnings

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

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