Pangaea Logistics Solutions (NASDAQ:PANL) Downgraded to “Sell” Rating by StockNews.com

StockNews.com downgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a hold rating to a sell rating in a research report report published on Monday.

Pangaea Logistics Solutions Stock Performance

NASDAQ:PANL opened at $5.46 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.77. The firm has a market capitalization of $354.69 million, a price-to-earnings ratio of 11.62 and a beta of 0.84. The company’s 50-day moving average is $5.27 and its two-hundred day moving average is $5.83. Pangaea Logistics Solutions has a 1-year low of $4.69 and a 1-year high of $8.32.

Pangaea Logistics Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.10 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 7.33%. Pangaea Logistics Solutions’s dividend payout ratio is currently 64.52%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

A number of hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp lifted its holdings in Pangaea Logistics Solutions by 220.2% during the 4th quarter. Mackenzie Financial Corp now owns 63,727 shares of the shipping company’s stock worth $342,000 after buying an additional 43,823 shares in the last quarter. PharVision Advisers LLC acquired a new stake in Pangaea Logistics Solutions during the 4th quarter worth approximately $300,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Pangaea Logistics Solutions in the 4th quarter valued at approximately $59,000. Deutsche Bank AG purchased a new stake in shares of Pangaea Logistics Solutions in the 4th quarter valued at approximately $153,000. Finally, D. E. Shaw & Co. Inc. purchased a new stake in shares of Pangaea Logistics Solutions in the 4th quarter valued at approximately $307,000. 60.23% of the stock is currently owned by institutional investors and hedge funds.

Pangaea Logistics Solutions Company Profile

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.