Pangaea Logistics Solutions (NASDAQ:PANL) Stock Price Down 5.2% – What’s Next?

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) traded down 5.2% on Wednesday . The company traded as low as $8.01 and last traded at $7.9530. Approximately 44,045 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 583,760 shares. The stock had previously closed at $8.39.

Analysts Set New Price Targets

PANL has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pangaea Logistics Solutions in a research report on Monday. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Pangaea Logistics Solutions presently has a consensus rating of “Hold”.

Pangaea Logistics Solutions Stock Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.12 and a current ratio of 1.38. The company has a market cap of $517.21 million, a PE ratio of 10.53 and a beta of 0.79. The company’s 50 day moving average price is $7.34 and its 200-day moving average price is $7.66.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings data on Monday, August 10th. The shipping company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. Pangaea Logistics Solutions had a return on equity of 9.42% and a net margin of 6.70%.The business had revenue of $187.12 million for the quarter, compared to the consensus estimate of $192.76 million. Equities research analysts anticipate that Pangaea Logistics Solutions Ltd. will post 0.81 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.10 dividend. This is an increase from Pangaea Logistics Solutions’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.40 annualized dividend and a yield of 5.1%. Pangaea Logistics Solutions’s payout ratio is 26.67%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Several institutional investors have recently added to or reduced their stakes in PANL. Millennium Management LLC increased its stake in shares of Pangaea Logistics Solutions by 1,846.9% in the fourth quarter. Millennium Management LLC now owns 438,987 shares of the shipping company’s stock worth $3,020,000 after purchasing an additional 416,439 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Pangaea Logistics Solutions by 13.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,884,470 shares of the shipping company’s stock worth $20,421,000 after buying an additional 351,385 shares during the period. Renaissance Technologies LLC grew its stake in Pangaea Logistics Solutions by 33.0% in the 1st quarter. Renaissance Technologies LLC now owns 746,100 shares of the shipping company’s stock valued at $5,282,000 after buying an additional 185,100 shares in the last quarter. Sei Investments Co. purchased a new position in Pangaea Logistics Solutions in the 1st quarter valued at approximately $933,000. Finally, Goldman Sachs Group Inc. raised its holdings in Pangaea Logistics Solutions by 44.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 373,734 shares of the shipping company’s stock valued at $2,571,000 after acquiring an additional 115,257 shares during the period. 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.