Pangaea Logistics Solutions (NASDAQ:PANL) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a buy rating to a hold rating in a report published on Wednesday.

Pangaea Logistics Solutions Trading Up 0.5 %

Shares of Pangaea Logistics Solutions stock opened at $6.37 on Wednesday. The company has a current ratio of 2.16, a quick ratio of 1.82 and a debt-to-equity ratio of 0.57. The company has a fifty day simple moving average of $6.86 and a 200-day simple moving average of $7.29. The stock has a market cap of $298.75 million, a price-to-earnings ratio of 8.38 and a beta of 0.85. Pangaea Logistics Solutions has a 12-month low of $5.42 and a 12-month high of $9.52.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings data on Thursday, August 8th. The shipping company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.05). Pangaea Logistics Solutions had a net margin of 7.02% and a return on equity of 8.76%. The company had revenue of $131.50 million during the quarter, compared to analyst estimates of $98.09 million. During the same quarter in the prior year, the company earned $0.10 EPS. On average, equities analysts forecast that Pangaea Logistics Solutions will post 0.76 EPS for the current fiscal year.

Pangaea Logistics Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 2nd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 6.28%. The ex-dividend date is Friday, August 30th. Pangaea Logistics Solutions’s dividend payout ratio is currently 52.63%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its stake in Pangaea Logistics Solutions by 85.8% during the 4th quarter. BNP Paribas Financial Markets now owns 38,478 shares of the shipping company’s stock worth $317,000 after purchasing an additional 17,769 shares during the period. Jump Financial LLC acquired a new stake in shares of Pangaea Logistics Solutions during the fourth quarter worth about $302,000. Janney Montgomery Scott LLC grew its holdings in shares of Pangaea Logistics Solutions by 17.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 71,430 shares of the shipping company’s stock worth $589,000 after buying an additional 10,773 shares during the last quarter. Quarry LP acquired a new position in Pangaea Logistics Solutions in the 4th quarter valued at about $35,000. Finally, Cable Car Capital LLC purchased a new stake in Pangaea Logistics Solutions during the 4th quarter valued at approximately $7,299,000. 60.23% of the stock is currently 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.