Pangaea Logistics Solutions (NASDAQ:PANL) Downgraded to Hold at StockNews.com

by · The Markets Daily

StockNews.com lowered shares of Pangaea Logistics Solutions (NASDAQ:PANL – Free Report) from a buy rating to a hold rating in a research report released on Friday.

Pangaea Logistics Solutions Price Performance

Shares of Pangaea Logistics Solutions stock opened at $6.27 on Friday. The company has a market cap of $294.06 million, a price-to-earnings ratio of 8.04 and a beta of 0.86. The company’s 50 day moving average is $6.63 and its 200 day moving average is $7.12. Pangaea Logistics Solutions has a twelve month low of $5.74 and a twelve month high of $9.52. The company has a quick ratio of 1.82, a current ratio of 2.16 and a debt-to-equity ratio of 0.57.

Pangaea Logistics Solutions (NASDAQ:PANL – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The shipping company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). The company had revenue of $131.50 million for the quarter, compared to the consensus estimate of $98.09 million. Pangaea Logistics Solutions had a net margin of 7.02% and a return on equity of 8.76%. During the same quarter last year, the company earned $0.10 EPS. Research analysts anticipate that Pangaea Logistics Solutions will post 0.76 EPS for the current year.

Pangaea Logistics Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 6.38%. Pangaea Logistics Solutions’s dividend payout ratio is currently 51.28%.

Institutional Trading of Pangaea Logistics Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PANL. Allspring Global Investments Holdings LLC increased its holdings in Pangaea Logistics Solutions by 14,653.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 34,671 shares of the shipping company’s stock valued at $242,000 after buying an additional 34,436 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of Pangaea Logistics Solutions during the 1st quarter valued at $157,000. BNP Paribas Financial Markets raised its position in shares of Pangaea Logistics Solutions by 55.7% during the 1st quarter. BNP Paribas Financial Markets now owns 59,895 shares of the shipping company’s stock valued at $417,000 after purchasing an additional 21,417 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Pangaea Logistics Solutions by 8.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 77,555 shares of the shipping company’s stock valued at $541,000 after purchasing an additional 6,125 shares during the period. Finally, Empowered Funds LLC raised its position in shares of Pangaea Logistics Solutions by 8.2% during the 1st quarter. Empowered Funds LLC now owns 298,487 shares of the shipping company’s stock valued at $2,080,000 after purchasing an additional 22,565 shares during the period. 60.23% of the stock is owned by hedge funds and other institutional investors.

Pangaea Logistics Solutions Company Profile

(Get Free Report)

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.

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