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 research note issued to investors on Friday morning.

Pangaea Logistics Solutions Price Performance

PANL stock opened at $6.27 on Friday. The company has a fifty day moving average of $6.63 and a 200-day moving average of $7.12. Pangaea Logistics Solutions has a one year low of $5.74 and a one year high of $9.52. The stock has a market capitalization of $294.06 million, a PE ratio of 8.04 and a beta of 0.86. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.82 and a current ratio of 2.16.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its earnings results on Thursday, August 8th. The shipping company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $98.09 million. During the same quarter last year, the company posted $0.10 EPS. As a group, analysts expect that Pangaea Logistics Solutions will post 0.76 EPS for the current year.

Pangaea Logistics Solutions Announces Dividend

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

Hedge Funds Weigh In On Pangaea Logistics Solutions

A number of institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its position in Pangaea Logistics Solutions by 14,653.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 34,671 shares of the shipping company’s stock worth $242,000 after buying an additional 34,436 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of Pangaea Logistics Solutions during the first quarter worth approximately $157,000. BNP Paribas Financial Markets raised its stake 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 worth $417,000 after purchasing an additional 21,417 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings 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 in the last quarter. Finally, Empowered Funds LLC boosted its position in Pangaea Logistics Solutions by 8.2% during the first quarter. Empowered Funds LLC now owns 298,487 shares of the shipping company’s stock worth $2,080,000 after purchasing an additional 22,565 shares during the period. 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.