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Video: What is a Stock Split?


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Paragon Shipping is a global provider of shipping transportation services and is engaged in providing shipping transportation services of cargoes through the ownership and operation of the bulk carrier vessels. Co. transports drybulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes. During 2015, Co.'s fleet consisted of eight Panamax drybulk carriers, two Ultramax drybulk carriers, two Supramax drybulk carriers and four Handysize drybulk carriers with an aggregate capacity of 980,380 dwt, which have been sold off. According to our PRGN split history records, PRGN has had 4 splits.
PRGN split history picture
PRGN (PRGN) has 4 splits in our PRGN split history database. The first split for PRGN took place on February 16, 1999. This was a 2 for 1 split, meaning for each share of PRGN owned pre-split, the shareholder now owned 2 shares. For example, a 1000 share position pre-split, became a 2000 share position following the split. PRGN's second split took place on February 22, 2000. This was a 2 for 1 split, meaning for each share of PRGN owned pre-split, the shareholder now owned 2 shares. For example, a 2000 share position pre-split, became a 4000 share position following the split. PRGN's third split took place on November 06, 2012. This was a 1 for 10 reverse split, meaning for each 10 shares of PRGN owned pre-split, the shareholder now owned 1 share. For example, a 4000 share position pre-split, became a 400 share position following the split. PRGN's 4th split took place on March 01, 2016. This was a 1 for 38 reverse split, meaning for each 38 shares of PRGN owned pre-split, the shareholder now owned 1 share. For example, a 400 share position pre-split, became a 10.5263157894737 share position following the split.

When a company such as PRGN splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business. When a company such as PRGN conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.

Looking at the PRGN split history from start to finish, an original position size of 1000 shares would have turned into 10.5263157894737 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into PRGN shares, starting with a $10,000 purchase of PRGN, presented on a split-history-adjusted basis factoring in the complete PRGN split history. PRGN split adjusted history picture

Growth of $10,000.00
Without Dividends Reinvested

Start date: 06/21/2011
End date: 06/03/2016
Start price/share: $756.20
End price/share: $0.73
Dividends collected/share: $0.00
Total return: -99.90%
Average Annual Total Return: -75.36%
Starting investment: $10,000.00
Ending investment: $9.66
Years: 4.96
Date Ratio
02/16/19992 for 1
02/22/20002 for 1
11/06/20121 for 10
03/01/20161 for 38
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