Pangaea Logistics Solutions (NASDAQ:PANL) Lowered to “Hold” at StockNews.com

StockNews.com cut shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a buy rating to a hold rating in a report issued on Wednesday.

Pangaea Logistics Solutions Stock Performance

PANL opened at $6.34 on Wednesday. The business has a fifty day simple moving average of $6.93 and a 200-day simple moving average of $7.30. The firm has a market cap of $297.36 million, a PE ratio of 8.34 and a beta of 0.85. The company has a quick ratio of 1.82, a current ratio of 2.16 and a debt-to-equity ratio of 0.57. Pangaea Logistics Solutions has a fifty-two week low of $5.42 and a fifty-two week high of $9.52.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings results on Thursday, August 8th. The shipping company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). Pangaea Logistics Solutions had a return on equity of 8.76% and a net margin of 7.02%. The company had revenue of $131.50 million during the quarter, compared to analysts’ expectations of $98.09 million. During the same period in the prior year, the business posted $0.10 EPS. As a group, equities analysts predict that Pangaea Logistics Solutions will post 0.76 EPS for the current fiscal year.

Pangaea Logistics Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 2nd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 6.31%. The ex-dividend date of this dividend is Friday, August 30th. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is currently 52.63%.

Institutional Trading of Pangaea Logistics Solutions

A number of hedge funds have recently modified their holdings of the business. Quarry LP acquired a new position in Pangaea Logistics Solutions during the fourth quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Pangaea Logistics Solutions during the 2nd quarter valued at about $58,000. Lazard Asset Management LLC acquired a new position in shares of Pangaea Logistics Solutions in the 1st quarter valued at about $61,000. Mackenzie Financial Corp purchased a new stake in shares of Pangaea Logistics Solutions in the second quarter worth approximately $110,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Pangaea Logistics Solutions during the first quarter worth approximately $114,000. Hedge funds and other institutional investors own 60.23% of the company’s stock.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.