Pangaea Logistics Solutions (NASDAQ:PANL) Issues Quarterly Earnings Results, Meets Estimates

Pangaea Logistics Solutions (NASDAQ:PANL) posted its quarterly earnings results on Tuesday. The shipping company reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24, reports. Pangaea Logistics Solutions had a return on equity of 7.90% and a net margin of 4.14%. The firm had revenue of $153.12 million during the quarter, compared to analysts’ expectations of $138.65 million.

Pangaea Logistics Solutions Stock Performance

NASDAQ PANL opened at $6.30 on Thursday. The firm has a market cap of $295.47 million, a price-to-earnings ratio of 13.40 and a beta of 0.87. The company has a current ratio of 2.16, a quick ratio of 1.82 and a debt-to-equity ratio of 0.57. Pangaea Logistics Solutions has a 1-year low of $6.09 and a 1-year high of $9.52. The company has a 50 day moving average of $6.57 and a 200-day moving average of $7.09.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC increased its position in Pangaea Logistics Solutions by 131.7% in the second quarter. AQR Capital Management LLC now owns 265,177 shares of the shipping company’s stock worth $2,076,000 after purchasing an additional 150,713 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Pangaea Logistics Solutions by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,853,611 shares of the shipping company’s stock worth $14,514,000 after buying an additional 112,298 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Pangaea Logistics Solutions during the third quarter worth approximately $761,000. American Century Companies Inc. lifted its holdings in Pangaea Logistics Solutions by 14.1% in the second quarter. American Century Companies Inc. now owns 725,829 shares of the shipping company’s stock valued at $5,683,000 after buying an additional 89,570 shares during the period. Finally, Kingsview Wealth Management LLC bought a new position in Pangaea Logistics Solutions in the first quarter valued at approximately $425,000. 60.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th.

About Pangaea Logistics Solutions

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.