Pangaea Logistics Solutions (NASDAQ:PANL) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a buy rating to a strong-buy rating in a research report report published on Thursday morning.

Separately, Alliance Global Partners raised Pangaea Logistics Solutions from a neutral rating to a buy rating and set a $10.25 price target for the company in a report on Monday, May 13th.

Pangaea Logistics Solutions Stock Up 1.2 %

Pangaea Logistics Solutions stock opened at $7.83 on Thursday. Pangaea Logistics Solutions has a twelve month low of $5.28 and a twelve month high of $9.52. The stock has a 50 day moving average of $7.65 and a two-hundred day moving average of $7.82. The company has a current ratio of 1.97, a quick ratio of 1.75 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $367.24 million, a price-to-earnings ratio of 10.30 and a beta of 0.86.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings data on Thursday, May 9th. The shipping company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. Pangaea Logistics Solutions had a return on equity of 8.86% and a net margin of 7.04%. The company had revenue of $104.75 million during the quarter, compared to analysts’ expectations of $117.47 million. During the same period last year, the firm earned $0.11 EPS. As a group, research analysts expect that Pangaea Logistics Solutions will post 0.73 earnings per share for the current year.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were issued a $0.10 dividend. The ex-dividend date was Thursday, May 30th. This represents a $0.40 annualized dividend and a dividend yield of 5.11%. Pangaea Logistics Solutions’s dividend payout ratio is currently 52.63%.

Institutional Trading of Pangaea Logistics Solutions

Several hedge funds have recently modified their holdings of PANL. Quadrature Capital Ltd acquired a new stake in shares of Pangaea Logistics Solutions in the 3rd quarter valued at approximately $108,000. SG Americas Securities LLC increased its stake in Pangaea Logistics Solutions by 11.8% in the 4th quarter. SG Americas Securities LLC now owns 56,332 shares of the shipping company’s stock valued at $464,000 after purchasing an additional 5,963 shares in the last quarter. Bailard Inc. purchased a new position in Pangaea Logistics Solutions in the 4th quarter valued at approximately $262,000. WealthTrust Axiom LLC increased its stake in Pangaea Logistics Solutions by 8.7% in the 4th quarter. WealthTrust Axiom LLC now owns 26,805 shares of the shipping company’s stock valued at $221,000 after purchasing an additional 2,149 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Pangaea Logistics Solutions by 85.8% in the 4th quarter. BNP Paribas Financial Markets now owns 38,478 shares of the shipping company’s stock valued at $317,000 after purchasing an additional 17,769 shares in the last quarter. 60.23% of the stock is owned by institutional investors and hedge funds.

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.