Pangaea Logistics Solutions (NASDAQ:PANL) Trading Up 5.3% – Still a Buy?

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) shares rose 5.3% during mid-day trading on Wednesday . The company traded as high as $8.79 and last traded at $8.55. Approximately 569,555 shares traded hands during trading, a decline of 18% from the average daily volume of 697,848 shares. The stock had previously closed at $8.12.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PANL shares. B. Riley reaffirmed a “buy” rating on shares of Pangaea Logistics Solutions in a research report on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Pangaea Logistics Solutions in a report on Monday, December 29th. Zacks Research downgraded shares of Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Wall Street Zen raised shares of Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a research report on Monday, December 1st. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Pangaea Logistics Solutions presently has an average rating of “Hold” and a consensus price target of $9.00.

Pangaea Logistics Solutions Stock Performance

The firm has a market capitalization of $548.35 million, a PE ratio of 28.07 and a beta of 0.79. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.62 and a quick ratio of 1.35. The company’s fifty day simple moving average is $7.06 and its 200 day simple moving average is $5.85.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its quarterly earnings results on Thursday, November 6th. The shipping company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.14. Pangaea Logistics Solutions had a net margin of 2.67% and a return on equity of 3.26%. The company had revenue of $168.67 million for the quarter, compared to analysts’ expectations of $159.32 million. As a group, equities research analysts expect that Pangaea Logistics Solutions Ltd. will post 0.43 EPS for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a $0.05 dividend. The ex-dividend date was Monday, December 1st. This represents a $0.20 annualized dividend and a dividend yield of 2.4%. Pangaea Logistics Solutions’s payout ratio is 66.67%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC bought a new stake in shares of Pangaea Logistics Solutions during the first quarter valued at about $195,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Pangaea Logistics Solutions by 18.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,342 shares of the shipping company’s stock valued at $102,000 after acquiring an additional 3,344 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Pangaea Logistics Solutions by 6.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 233,537 shares of the shipping company’s stock worth $1,112,000 after acquiring an additional 14,357 shares during the period. Empowered Funds LLC lifted its stake in Pangaea Logistics Solutions by 7.3% in the 1st 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, Creative Planning boosted its holdings in Pangaea Logistics Solutions by 94.2% in the 2nd quarter. Creative Planning now owns 23,094 shares of the shipping company’s stock valued at $109,000 after purchasing an additional 11,204 shares during the period. Institutional investors own 60.23% of the company’s stock.

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.