Pangaea Logistics Solutions (NASDAQ:PANL) Hits New 12-Month High – Still a Buy?

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) shares hit a new 52-week high during trading on Friday . The company traded as high as $9.39 and last traded at $9.34, with a volume of 487141 shares traded. The stock had previously closed at $9.27.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PANL. Wall Street Zen upgraded Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a research note on Monday, December 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research report on Monday, December 29th. Zacks Research cut shares of Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Pangaea Logistics Solutions in a research note on Wednesday, January 28th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $9.00.

Pangaea Logistics Solutions Stock Performance

The company has a quick ratio of 1.35, a current ratio of 1.62 and a debt-to-equity ratio of 0.72. The business’s 50-day simple moving average is $7.80 and its two-hundred day simple moving average is $6.42. The firm has a market cap of $607.51 million, a price-to-earnings ratio of 31.17 and a beta of 0.79.

Pangaea Logistics Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, February 27th. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 66.67%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its stake in Pangaea Logistics Solutions by 89.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock valued at $31,000 after buying an additional 2,864 shares in the last quarter. LOM Asset Management Ltd acquired a new position in shares of Pangaea Logistics Solutions during the fourth quarter valued at approximately $34,000. Tower Research Capital LLC TRC lifted its position in shares of Pangaea Logistics Solutions by 110.0% in the second quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company’s stock valued at $43,000 after acquiring an additional 4,825 shares in the last quarter. Algert Global LLC purchased a new position in shares of Pangaea Logistics Solutions in the third quarter valued at approximately $53,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Pangaea Logistics Solutions in the fourth quarter worth approximately $53,000. 60.23% of the stock is owned by hedge funds and other 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.