StockNews.com Lowers Pangaea Logistics Solutions (NASDAQ:PANL) to Hold

StockNews.com cut shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Pangaea Logistics Solutions Trading Up 1.5 %

NASDAQ:PANL opened at $6.73 on Wednesday. The company has a quick ratio of 1.82, a current ratio of 2.16 and a debt-to-equity ratio of 0.57. Pangaea Logistics Solutions has a 52-week low of $5.74 and a 52-week high of $9.52. The stock’s 50 day moving average price is $6.66 and its 200 day moving average price is $7.15. The company has a market capitalization of $315.65 million, a PE ratio of 8.86 and a beta of 0.86.

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

Pangaea Logistics Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 5.94%. The ex-dividend date of this dividend was Friday, August 30th. Pangaea Logistics Solutions’s dividend payout ratio is presently 52.63%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cable Car Capital LLC acquired a new stake in shares of Pangaea Logistics Solutions during the fourth quarter worth $7,299,000. AQR Capital Management LLC raised its position in Pangaea Logistics Solutions by 131.7% during the 2nd quarter. AQR Capital Management LLC now owns 265,177 shares of the shipping company’s stock worth $2,076,000 after buying an additional 150,713 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of 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 worth $14,514,000 after acquiring an additional 112,298 shares during the period. American Century Companies Inc. boosted its holdings in shares of 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 acquiring an additional 89,570 shares in the last quarter. Finally, Kingsview Wealth Management LLC acquired a new position in shares of Pangaea Logistics Solutions during the first quarter worth about $425,000. 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.