Pangaea Logistics Solutions (NASDAQ:PANL) Stock Price Down 5.5% – What’s Next?

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) shares traded down 5.5% on Thursday . The stock traded as low as $7.68 and last traded at $7.6950. 449,523 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 647,929 shares. The stock had previously closed at $8.14.

Analyst Ratings Changes

Several brokerages recently weighed in on PANL. Weiss Ratings raised Pangaea Logistics Solutions from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Wall Street Zen raised shares of Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Pangaea Logistics Solutions in a research report on Wednesday, January 28th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Pangaea Logistics Solutions Trading Down 5.2%

The business has a fifty day moving average of $7.56 and a 200-day moving average of $7.56. The stock has a market capitalization of $504.72 million, a price-to-earnings ratio of 14.03 and a beta of 0.81. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.37.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its earnings results on Monday, May 11th. The shipping company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.05 by $0.06. Pangaea Logistics Solutions had a return on equity of 5.71% and a net margin of 5.10%.The business had revenue of $170.58 million during the quarter, compared to the consensus estimate of $165.79 million. On average, equities analysts anticipate that Pangaea Logistics Solutions Ltd. will post 0.71 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.05 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.20 dividend on an annualized basis and a yield of 2.6%. Pangaea Logistics Solutions’s dividend payout ratio is currently 36.36%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Pangaea Logistics Solutions by 13.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,884,470 shares of the shipping company’s stock valued at $20,421,000 after buying an additional 351,385 shares during the last quarter. Cable Car Capital LP increased its holdings in shares of Pangaea Logistics Solutions by 2.1% during the second quarter. Cable Car Capital LP now owns 985,623 shares of the shipping company’s stock worth $4,632,000 after buying an additional 20,000 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Pangaea Logistics Solutions by 33.0% during the first quarter. Renaissance Technologies LLC now owns 746,100 shares of the shipping company’s stock worth $5,282,000 after buying an additional 185,100 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in shares of Pangaea Logistics Solutions by 4.3% during the second quarter. Bridgeway Capital Management LLC now owns 707,479 shares of the shipping company’s stock valued at $3,325,000 after purchasing an additional 29,260 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Pangaea Logistics Solutions by 1,846.9% during the fourth quarter. Millennium Management LLC now owns 438,987 shares of the shipping company’s stock valued at $3,020,000 after purchasing an additional 416,439 shares during the last quarter. 60.23% of the stock is currently owned by institutional investors.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions Ltd. is a global transportation and logistics company that provides ocean transportation and integrated logistics services. The company operates a fleet of drybulk vessels, including Handysize, Supramax and Ultramax carriers, to transport commodities such as coal, grain, minerals, ores and steel products. In parallel, Pangaea offers asset-light logistics solutions spanning freight forwarding, supply chain management and project cargo services, enabling end-to-end transport for bulk and breakbulk shipments.

Founded in 2012 as a spin-off from an established maritime shipping group, Pangaea Logistics Solutions went public on the Nasdaq in 2013 under the ticker PANL.