Pangaea Logistics Solutions (NASDAQ:PANL) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Pangaea Logistics Solutions (NASDAQ:PANL – Get Rating) in a research report sent to investors on Thursday morning. The brokerage issued a buy rating on the shipping company’s stock.

Pangaea Logistics Solutions Trading Down 3.7 %

NASDAQ PANL opened at $5.53 on Thursday. The company’s fifty day simple moving average is $6.12 and its 200-day simple moving average is $5.34. Pangaea Logistics Solutions has a 52 week low of $4.23 and a 52 week high of $7.12. The company has a current ratio of 2.41, a quick ratio of 2.11 and a debt-to-equity ratio of 0.73. The stock has a market cap of $257.03 million, a P/E ratio of 3.12 and a beta of 0.73.

Pangaea Logistics Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.23%. Pangaea Logistics Solutions’s payout ratio is currently 22.60%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PANL. Dimensional Fund Advisors LP lifted its position in shares of Pangaea Logistics Solutions by 30.8% during the third quarter. Dimensional Fund Advisors LP now owns 896,491 shares of the shipping company’s stock worth $4,142,000 after purchasing an additional 210,891 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Pangaea Logistics Solutions by 119.7% in the first quarter. Renaissance Technologies LLC now owns 343,900 shares of the shipping company’s stock valued at $1,912,000 after acquiring an additional 187,400 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Pangaea Logistics Solutions by 752.5% in the second quarter. Goldman Sachs Group Inc. now owns 110,930 shares of the shipping company’s stock valued at $564,000 after acquiring an additional 97,918 shares in the last quarter. LSV Asset Management acquired a new stake in Pangaea Logistics Solutions in the fourth quarter valued at $494,000. Finally, Jefferies Financial Group Inc. acquired a new stake in Pangaea Logistics Solutions in the fourth quarter valued at $442,000. 45.35% of the stock is owned by institutional investors and hedge funds.

About Pangaea Logistics Solutions

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Pangaea Logistics Solutions Ltd. engages in the provision of seaborne dry bulk logistics and transportation services to industrial customers worldwide. The firm services customers that require transportation of dry bulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.