Strategic shipping buys $377,585 in Pangaea Logistics Solutions shares

Strategic Shipping Inc., a ten percent owner of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL), recently made significant acquisitions of the company’s common shares amid the stock’s 35% decline over the past six months. According to the latest SEC filing, Strategic Shipping purchased a total of 89,311 shares over a series of transactions on April 9, April 10, and April 11, 2025. InvestingPro analysis indicates the stock is currently trading below Fair Value, with an attractive P/E ratio of 6.7x.

The transactions were executed at prices ranging from $4.10 to $4.24 per share, with the total purchase amounting to approximately $377,585. After these acquisitions, Strategic Shipping now holds a total of 18,593,653 shares in Pangaea Logistics Solutions.

These purchases reflect ongoing interest and investment in Pangaea Logistics Solutions by Strategic Shipping, further solidifying its position as a major shareholder in the company.

In other recent news, Pangaea Logistics Solutions announced its fourth-quarter 2024 earnings, reporting an adjusted earnings per share (EPS) of $0.16, which surpassed analysts’ expectations of $0.10. The company’s revenue also exceeded forecasts, reaching $147.17 million against a projection of $139.51 million. This performance reflects a significant earnings surprise and highlights Pangaea’s strategic execution and operational efficiency. Additionally, Pangaea completed a merger with Strategic Shipping (SSI), enhancing its fleet capacity and market presence. The company’s adjusted EBITDA increased by 20% year-over-year to $23.2 million, and it maintains a strong cash position with $86.8 million on hand. In other developments, Pangaea’s strategic expansion aims to bolster its port services and logistics, with a potential increase in general and administrative expenses by $1-2 million in 2025. The company remains focused on fleet renewal and capital allocation to sustain growth. Analysts have noted the company’s cautious approach to fleet expansion, emphasizing thoughtful and sustainable growth.

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