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

Pangaea Logistics Solutions (NASDAQ:PANL) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Pangaea Logistics Solutions Stock Performance

Shares of NASDAQ:PANL traded up $0.12 during trading on Wednesday, reaching $6.34. 99,967 shares of the company’s stock traded hands, compared to its average volume of 225,166. The stock has a market capitalization of $297.35 million, a P/E ratio of 8.34 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. The company has a 50 day moving average of $6.93 and a 200-day moving average of $7.30. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.16 and a quick ratio of 1.82.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its position in Pangaea Logistics Solutions by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,853,611 shares of the shipping company’s stock valued at $14,514,000 after buying an additional 112,298 shares in the last quarter. Cable Car Capital LLC bought a new position in Pangaea Logistics Solutions during the 4th quarter valued at $7,299,000. American Century Companies Inc. increased its position in shares of Pangaea Logistics Solutions by 14.1% during the 2nd quarter. American Century Companies Inc. now owns 725,829 shares of the shipping company’s stock valued at $5,683,000 after purchasing an additional 89,570 shares during the period. Vanguard Group Inc. raised its stake in shares of Pangaea Logistics Solutions by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 701,875 shares of the shipping company’s stock worth $4,892,000 after buying an additional 13,542 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Pangaea Logistics Solutions by 4.6% in the second quarter. Renaissance Technologies LLC now owns 614,150 shares of the shipping company’s stock valued at $4,809,000 after buying an additional 26,750 shares during the period. Institutional investors own 60.23% of the company’s stock.

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.