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

StockNews.com cut shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a buy rating to a hold rating in a research note released on Wednesday.

Separately, Alliance Global Partners lowered Pangaea Logistics Solutions from a buy rating to a neutral rating and set a $8.75 price target for the company. in a report on Monday, February 5th.

Pangaea Logistics Solutions Stock Performance

PANL stock opened at $6.84 on Wednesday. Pangaea Logistics Solutions has a twelve month low of $5.23 and a twelve month high of $9.52. The firm has a market cap of $319.56 million, a price-to-earnings ratio of 11.59 and a beta of 0.86. The business’s fifty day simple moving average is $8.26 and its two-hundred day simple moving average is $7.28. The company has a quick ratio of 1.66, a current ratio of 1.82 and a debt-to-equity ratio of 0.57.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings results on Wednesday, March 13th. The shipping company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.28). The company had revenue of $131.88 million during the quarter, compared to analysts’ expectations of $152.31 million. Pangaea Logistics Solutions had a return on equity of 8.54% and a net margin of 5.27%. During the same period in the prior year, the business earned $0.32 EPS. Analysts predict that Pangaea Logistics Solutions will post 0.85 earnings per share for the current year.

Pangaea Logistics Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.40 annualized dividend and a dividend yield of 5.85%. Pangaea Logistics Solutions’s dividend payout ratio is currently 67.80%.

Institutional Trading of Pangaea Logistics Solutions

A number of hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada bought a new position in shares of Pangaea Logistics Solutions during the second quarter valued at approximately $26,000. Bank of America Corp DE lifted its stake in shares of Pangaea Logistics Solutions by 1,977.9% during the 1st quarter. Bank of America Corp DE now owns 4,800 shares of the shipping company’s stock worth $27,000 after purchasing an additional 4,569 shares during the last quarter. Quarry LP bought a new stake in Pangaea Logistics Solutions during the fourth quarter valued at about $35,000. UBS Group AG grew its stake in Pangaea Logistics Solutions by 67.6% in the second quarter. UBS Group AG now owns 7,466 shares of the shipping company’s stock valued at $38,000 after purchasing an additional 3,012 shares during the last quarter. Finally, Sei Investments Co. bought a new position in Pangaea Logistics Solutions in the second quarter worth about $58,000. 60.23% of the stock is owned by hedge funds and other institutional investors.

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. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.