Pangaea Logistics Solutions (NASDAQ:PANL) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a buy rating to a hold rating in a research report released on Saturday morning.

Several other research firms have also recently issued reports on PANL. B. Riley Financial reaffirmed a “buy” rating on shares of Pangaea Logistics Solutions in a research note on Wednesday, January 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research report on Monday, December 29th. Finally, Zacks Research downgraded shares of Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Pangaea Logistics Solutions has an average rating of “Hold” and an average price target of $9.00.

Pangaea Logistics Solutions Stock Up 1.9%

PANL opened at $6.96 on Friday. The firm has a market cap of $452.19 million, a P/E ratio of 22.45 and a beta of 0.77. The business’s fifty day simple moving average is $8.12 and its 200 day simple moving average is $6.70. Pangaea Logistics Solutions has a 52 week low of $3.93 and a 52 week high of $9.39. The company has a quick ratio of 1.35, a current ratio of 1.62 and a debt-to-equity ratio of 0.72.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its earnings results on Tuesday, March 10th. The shipping company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). The firm had revenue of $183.88 million during the quarter, compared to analyst estimates of $181.75 million. Pangaea Logistics Solutions had a net margin of 3.06% and a return on equity of 3.82%. As a group, equities research analysts anticipate that Pangaea Logistics Solutions will post 0.43 EPS for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a dividend of $0.05 per share. The ex-dividend date was Friday, February 27th. This represents a $0.20 annualized dividend and a yield of 2.9%. Pangaea Logistics Solutions’s dividend payout ratio is 64.52%.

Institutional Trading of Pangaea Logistics Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new position in shares of Pangaea Logistics Solutions during the 4th quarter valued at about $197,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Pangaea Logistics Solutions during the 4th quarter worth about $200,000. Numerai GP LLC acquired a new stake in shares of Pangaea Logistics Solutions in the fourth quarter worth approximately $751,000. Occudo Quantitative Strategies LP acquired a new stake in shares of Pangaea Logistics Solutions in the fourth quarter worth approximately $318,000. Finally, Oxford Asset Management LLP purchased a new stake in Pangaea Logistics Solutions in the fourth quarter valued at approximately $230,000. Hedge funds and other institutional investors own 60.23% of the company’s stock.

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.