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

StockNews.com cut shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a strong-buy rating to a buy rating in a research note published on Tuesday.

Separately, Alliance Global Partners upgraded Pangaea Logistics Solutions from a neutral rating to a buy rating and set a $10.25 price objective on the stock in a research report on Monday, May 13th.

Pangaea Logistics Solutions Stock Performance

Shares of PANL stock opened at $6.63 on Tuesday. The company has a current ratio of 1.97, a quick ratio of 1.75 and a debt-to-equity ratio of 0.54. The stock has a 50 day simple moving average of $7.64 and a 200-day simple moving average of $7.73. The company has a market cap of $310.95 million, a price-to-earnings ratio of 8.89 and a beta of 0.88. Pangaea Logistics Solutions has a 12-month low of $5.28 and a 12-month high of $9.52.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its earnings results on Thursday, May 9th. The shipping company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. Pangaea Logistics Solutions had a net margin of 7.04% and a return on equity of 8.86%. The company had revenue of $104.75 million during the quarter, compared to analysts’ expectations of $117.47 million. During the same period last year, the company posted $0.11 earnings per share. On average, equities analysts forecast that Pangaea Logistics Solutions will post 0.73 EPS for the current year.

Pangaea Logistics Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.03%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is 52.63%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PANL. Principal Financial Group Inc. grew its stake in Pangaea Logistics Solutions by 6.7% during the 2nd quarter. Principal Financial Group Inc. now owns 24,047 shares of the shipping company’s stock valued at $188,000 after purchasing an additional 1,514 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Pangaea Logistics Solutions by 3.0% in the first quarter. SG Americas Securities LLC now owns 58,004 shares of the shipping company’s stock worth $404,000 after buying an additional 1,672 shares during the last quarter. WealthTrust Axiom LLC raised its holdings in Pangaea Logistics Solutions by 8.7% in the fourth quarter. WealthTrust Axiom LLC now owns 26,805 shares of the shipping company’s stock valued at $221,000 after acquiring an additional 2,149 shares in the last quarter. Quarry LP acquired a new stake in Pangaea Logistics Solutions in the fourth quarter valued at $35,000. Finally, Tower Research Capital LLC TRC boosted its stake in Pangaea Logistics Solutions by 245.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,142 shares of the shipping company’s stock valued at $59,000 after acquiring an additional 5,077 shares during the last quarter. 60.23% of the stock is 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.