Pangaea Logistics Solutions (NASDAQ:PANL) Hits New 1-Year High – Time to Buy?

Shares of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) hit a new 52-week high during trading on Thursday . The company traded as high as $8.15 and last traded at $8.7190, with a volume of 425704 shares traded. The stock had previously closed at $7.14.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a research report on Monday, December 1st. Finally, Zacks Research downgraded shares of Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $9.00.

Pangaea Logistics Solutions Stock Performance

The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.35 and a current ratio of 1.62. The firm has a 50 day moving average price of $7.00 and a two-hundred day moving average price of $5.81. The company has a market capitalization of $530.19 million, a P/E ratio of 27.20 and a beta of 0.79.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its earnings results on Thursday, November 6th. The shipping company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.03 by $0.14. Pangaea Logistics Solutions had a return on equity of 3.26% and a net margin of 2.67%.The business had revenue of $168.67 million during the quarter, compared to the consensus estimate of $159.32 million. On average, research analysts expect that Pangaea Logistics Solutions Ltd. will post 0.43 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.20 annualized dividend and a dividend yield of 2.5%. Pangaea Logistics Solutions’s dividend payout ratio is presently 66.67%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in shares of Pangaea Logistics Solutions by 3.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,432,754 shares of the shipping company’s stock worth $12,359,000 after buying an additional 86,281 shares in the last quarter. Cable Car Capital LP increased its holdings in Pangaea Logistics Solutions by 2.1% during the 2nd quarter. Cable Car Capital LP now owns 985,623 shares of the shipping company’s stock valued at $4,632,000 after purchasing an additional 20,000 shares in the last quarter. Bridgeway Capital Management LLC raised its position in Pangaea Logistics Solutions by 4.3% in the 2nd 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. Empowered Funds LLC boosted its stake in Pangaea Logistics Solutions by 7.3% in the first quarter. Empowered Funds LLC now owns 381,919 shares of the shipping company’s stock worth $1,818,000 after purchasing an additional 25,851 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Pangaea Logistics Solutions by 6.6% during the first quarter. Goldman Sachs Group Inc. now owns 233,537 shares of the shipping company’s stock worth $1,112,000 after purchasing an additional 14,357 shares during the last quarter. 60.23% of the stock is currently owned by institutional investors and hedge funds.

About Pangaea Logistics Solutions

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.