Pangaea Logistics Solutions (NASDAQ:PANL) Downgraded by StockNews.com to Hold

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

Separately, Alliance Global Partners lowered 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 research note on Monday, February 5th.

Pangaea Logistics Solutions Stock Up 1.2 %

Shares of NASDAQ:PANL opened at $7.00 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.66 and a debt-to-equity ratio of 0.57. The company has a fifty day simple moving average of $7.38 and a 200 day simple moving average of $7.43. The firm has a market cap of $327.04 million, a PE ratio of 11.86 and a beta of 0.85. 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 quarterly earnings results on Wednesday, March 13th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.28). The company had revenue of $131.88 million during the quarter, compared to the consensus estimate of $152.31 million. Pangaea Logistics Solutions had a return on equity of 8.54% and a net margin of 5.27%. During the same quarter last year, the firm posted $0.32 EPS. On average, equities research analysts anticipate that Pangaea Logistics Solutions will post 0.87 EPS for the current fiscal year.

Pangaea Logistics Solutions Announces Dividend

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

Institutional Trading of Pangaea Logistics Solutions

Institutional investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC bought a new stake in Pangaea Logistics Solutions during the third quarter valued at $357,000. SG Americas Securities LLC grew its position in shares of Pangaea Logistics Solutions by 39.2% during the third quarter. SG Americas Securities LLC now owns 50,369 shares of the shipping company’s stock worth $296,000 after acquiring an additional 14,194 shares during the last quarter. WealthTrust Axiom LLC grew its position in shares of Pangaea Logistics Solutions by 52.6% during the third quarter. WealthTrust Axiom LLC now owns 24,656 shares of the shipping company’s stock worth $145,000 after acquiring an additional 8,500 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Pangaea Logistics Solutions during the third quarter worth about $108,000. Finally, Annex Advisory Services LLC lifted its holdings in Pangaea Logistics Solutions by 17.3% in the third quarter. Annex Advisory Services LLC now owns 51,018 shares of the shipping company’s stock worth $300,000 after purchasing an additional 7,517 shares during the period. Institutional investors 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.