Pangaea Logistics Solutions (NASDAQ:PANL) Stock Rating Lowered by StockNews.com

Pangaea Logistics Solutions (NASDAQ:PANL) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

Pangaea Logistics Solutions Stock Up 0.6 %

Shares of NASDAQ PANL traded up $0.03 on Monday, reaching $5.46. 347,552 shares of the company’s stock traded hands, compared to its average volume of 185,093. The business’s 50 day simple moving average is $5.27 and its two-hundred day simple moving average is $5.83. Pangaea Logistics Solutions has a 12 month low of $4.69 and a 12 month high of $8.32. The company has a market cap of $354.69 million, a price-to-earnings ratio of 11.62 and a beta of 0.84. The company has a quick ratio of 1.77, a current ratio of 2.05 and a debt-to-equity ratio of 0.72.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Institutional investors have recently modified their holdings of the stock. 683 Capital Management LLC bought a new position in Pangaea Logistics Solutions in the 4th quarter worth about $3,254,000. Royce & Associates LP raised its holdings in Pangaea Logistics Solutions by 24.0% in the fourth quarter. Royce & Associates LP now owns 960,102 shares of the shipping company’s stock worth $5,146,000 after buying an additional 185,650 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Pangaea Logistics Solutions by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,060,392 shares of the shipping company’s stock worth $11,044,000 after buying an additional 105,965 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Pangaea Logistics Solutions during the third quarter valued at approximately $761,000. Finally, Wellington Management Group LLP increased its position in shares of Pangaea Logistics Solutions by 7.1% during the fourth quarter. Wellington Management Group LLP now owns 1,596,743 shares of the shipping company’s stock valued at $8,559,000 after acquiring an additional 105,200 shares in the last quarter. 60.23% of the stock is owned by hedge funds and other institutional investors.

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.