Pangaea Logistics Solutions (NASDAQ:PANL) Upgraded to “Buy” by StockNews.com

by · The Markets Daily

StockNews.com upgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL – Free Report) from a hold rating to a buy rating in a research report report published on Thursday morning.

Pangaea Logistics Solutions Trading Up 1.1 %

NASDAQ PANL opened at $6.44 on Thursday. The stock has a market cap of $302.04 million, a PE ratio of 8.26 and a beta of 0.86. Pangaea Logistics Solutions has a 12 month low of $5.74 and a 12 month high of $9.52. The company’s 50-day moving average price is $6.65 and its 200-day moving average price is $7.14. The company has a current ratio of 2.16, a quick ratio of 1.82 and a debt-to-equity ratio of 0.57.

Pangaea Logistics Solutions (NASDAQ:PANL – Get Free Report) last issued its earnings results on Thursday, August 8th. The shipping company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). Pangaea Logistics Solutions had a return on equity of 8.76% and a net margin of 7.02%. The company had revenue of $131.50 million during the quarter, compared to the consensus estimate of $98.09 million. During the same quarter in the prior year, the company earned $0.10 earnings per share. Equities research analysts forecast that Pangaea Logistics Solutions will post 0.76 earnings per share for the current year.

Pangaea Logistics Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.21%. The ex-dividend date was Friday, August 30th. Pangaea Logistics Solutions’s payout ratio is 51.28%.

Institutional Trading of Pangaea Logistics Solutions

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quadrature Capital Ltd increased its position in Pangaea Logistics Solutions by 111.5% during the 4th quarter. Quadrature Capital Ltd now owns 38,937 shares of the shipping company’s stock valued at $321,000 after purchasing an additional 20,529 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Pangaea Logistics Solutions by 14,653.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 34,671 shares of the shipping company’s stock valued at $242,000 after acquiring an additional 34,436 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Pangaea Logistics Solutions in the 1st quarter valued at $157,000. BNP Paribas Financial Markets raised its position in shares of Pangaea Logistics Solutions by 55.7% in the 1st quarter. BNP Paribas Financial Markets now owns 59,895 shares of the shipping company’s stock worth $417,000 after acquiring an additional 21,417 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Pangaea Logistics Solutions by 8.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 77,555 shares of the shipping company’s stock worth $541,000 after purchasing an additional 6,125 shares during the last quarter. 60.23% of the stock is currently owned by institutional investors.

About Pangaea Logistics Solutions

(Get Free Report)

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.

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