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

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

Separately, Alliance Global Partners cut Pangaea Logistics Solutions from a buy rating to a neutral rating and set a $8.75 price target on the stock. in a research note on Monday, February 5th.

Pangaea Logistics Solutions Price Performance

Shares of PANL opened at $7.00 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.66 and a current ratio of 1.82. The stock has a 50 day simple moving average of $7.38 and a 200 day simple moving average of $7.43. Pangaea Logistics Solutions has a 52-week low of $5.28 and a 52-week high of $9.52. The firm has a market capitalization of $327.04 million, a PE ratio of 11.86 and a beta of 0.85.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings results on Wednesday, March 13th. The shipping company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.28). Pangaea Logistics Solutions had a return on equity of 8.54% and a net margin of 5.27%. The firm had revenue of $131.88 million for the quarter, compared to analyst estimates of $152.31 million. During the same period last year, the company earned $0.32 EPS. Sell-side analysts predict that Pangaea Logistics Solutions will post 0.87 EPS for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 5.71%. The ex-dividend date of this dividend was Thursday, February 29th. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is currently 67.80%.

Institutional Trading of Pangaea Logistics Solutions

Large investors have recently bought and sold shares of the business. Quarry LP bought a new position in Pangaea Logistics Solutions in the fourth quarter valued at about $35,000. Tower Research Capital LLC TRC raised its position in shares of Pangaea Logistics Solutions by 245.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,142 shares of the shipping company’s stock worth $59,000 after acquiring an additional 5,077 shares during the last quarter. Astoria Portfolio Advisors LLC. bought a new position in shares of Pangaea Logistics Solutions during the third quarter worth about $76,000. Quadrature Capital Ltd bought a new position in shares of Pangaea Logistics Solutions during the third quarter worth about $108,000. Finally, Brandywine Global Investment Management LLC raised its position in shares of Pangaea Logistics Solutions by 11.1% during the third quarter. Brandywine Global Investment Management LLC now owns 21,878 shares of the shipping company’s stock worth $129,000 after acquiring an additional 2,180 shares during the last quarter. 60.23% of the stock is owned by institutional investors and hedge funds.

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.