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 report published on Wednesday morning.

Separately, Alliance Global Partners cut shares of Pangaea Logistics Solutions from a buy rating to a neutral rating and set a $8.75 target price for the company. in a report on Monday, February 5th.

Pangaea Logistics Solutions Stock Up 1.9 %

Pangaea Logistics Solutions stock opened at $6.97 on Wednesday. The stock has a market capitalization of $325.64 million, a PE ratio of 11.81 and a beta of 0.86. Pangaea Logistics Solutions has a twelve month low of $5.23 and a twelve month high of $9.52. The company has a quick ratio of 1.66, a current ratio of 1.82 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $8.19 and a 200-day moving average of $7.29.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its earnings results on Wednesday, March 13th. The shipping company reported $0.16 EPS for the quarter, missing the consensus estimate 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 business had revenue of $131.88 million for the quarter, compared to analyst estimates of $152.31 million. During the same quarter in the previous year, the company posted $0.32 EPS. On average, equities research analysts anticipate that Pangaea Logistics Solutions will post 0.85 EPS for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 5.74%. The ex-dividend date was Thursday, February 29th. Pangaea Logistics Solutions’s payout ratio is 67.80%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd lifted its stake in Pangaea Logistics Solutions by 111.5% in the fourth quarter. Quadrature Capital Ltd now owns 38,937 shares of the shipping company’s stock valued at $321,000 after acquiring an additional 20,529 shares during the last quarter. Vanguard Group Inc. lifted its stake in Pangaea Logistics Solutions by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 688,333 shares of the shipping company’s stock valued at $5,672,000 after acquiring an additional 11,522 shares during the last quarter. Virtu Financial LLC acquired a new stake in Pangaea Logistics Solutions in the fourth quarter valued at $143,000. Cable Car Capital LLC acquired a new stake in Pangaea Logistics Solutions in the fourth quarter valued at $7,299,000. Finally, Quarry LP acquired a new stake in Pangaea Logistics Solutions in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 60.23% of the company’s stock.

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.