Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) Stake Maintained by Rockland Trust Co.

Rockland Trust Co. continued to hold its stake in shares of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 9,820,755 shares of the shipping company’s stock at the end of the second quarter. Pangaea Logistics Solutions comprises 4.3% of Rockland Trust Co.’s investment portfolio, making the stock its largest position. Rockland Trust Co. owned about 26.36% of Pangaea Logistics Solutions worth $27,302,000 as of its most recent SEC filing.

Separately, RBF Capital LLC raised its stake in shares of Pangaea Logistics Solutions by 16.5% in the first quarter. RBF Capital LLC now owns 117,179 shares of the shipping company’s stock worth $400,000 after buying an additional 16,630 shares during the last quarter. Institutional investors own 25.18% of the company’s stock.

Shares of Pangaea Logistics Solutions Ltd. (PANL) traded down 1.58% during mid-day trading on Friday, reaching $2.49. The company had a trading volume of 10,526 shares. The company’s 50-day moving average price is $2.70 and its 200-day moving average price is $3.07. Pangaea Logistics Solutions Ltd. has a 52-week low of $2.30 and a 52-week high of $4.44. The company has a market capitalization of $109.05 million, a PE ratio of 35.57 and a beta of 0.37.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings results on Monday, August 14th. The shipping company reported $0.01 earnings per share (EPS) for the quarter. Pangaea Logistics Solutions had a net margin of 0.88% and a return on equity of 6.56%. The company had revenue of $91.42 million during the quarter. On average, analysts forecast that Pangaea Logistics Solutions Ltd. will post ($0.02) earnings per share for the current fiscal year.

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About Pangaea Logistics Solutions

Pangaea Logistics Solutions, Ltd. is a holding company. The Company is a provider of seaborne drybulk transportation services. The Company services a range of industrial customers who require the transportation of a range of drybulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite and limestone.