Pangaea Logistics Solutions (NASDAQ:PANL) Announces Earnings Results

Pangaea Logistics Solutions (NASDAQ:PANL) posted its quarterly earnings results on Monday. The shipping company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02, Zacks reports. Pangaea Logistics Solutions had a net margin of 5.10% and a return on equity of 5.71%. The business had revenue of $187.12 million during the quarter, compared to analysts’ expectations of $192.76 million.

Pangaea Logistics Solutions Stock Performance

PANL traded down $0.09 during trading on Monday, reaching $7.33. 433,061 shares of the company’s stock were exchanged, compared to its average volume of 596,835. 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 has a 1 year low of $4.54 and a 1 year high of $9.39. The company’s fifty day simple moving average is $7.26 and its 200-day simple moving average is $7.71. The stock has a market capitalization of $479.53 million, a P/E ratio of 13.33 and a beta of 0.79.

Institutional Trading of Pangaea Logistics Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in PANL. BNP Paribas Financial Markets raised its holdings in shares of Pangaea Logistics Solutions by 89.9% during the third quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock worth $31,000 after purchasing an additional 2,864 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in Pangaea Logistics Solutions in the fourth quarter valued at $53,000. Tower Research Capital LLC TRC boosted its holdings in 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 purchasing an additional 4,825 shares during the last quarter. Algert Global LLC acquired a new stake in Pangaea Logistics Solutions during the 3rd quarter worth about $53,000. Finally, Two Sigma Investments LP acquired a new stake in Pangaea Logistics Solutions during the 3rd quarter worth about $63,000. Institutional investors and hedge funds own 60.23% of the company’s stock.

Analyst Upgrades and Downgrades

PANL has been the subject of a number of research analyst reports. Weiss Ratings lowered Pangaea Logistics Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Wall Street Zen raised Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Pangaea Logistics Solutions currently has an average rating of “Hold” and a consensus target price of $9.00.

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.