StockNews.com Downgrades Pangaea Logistics Solutions (NASDAQ:PANL) to Hold

Pangaea Logistics Solutions (NASDAQ:PANL) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Pangaea Logistics Solutions Price Performance

Pangaea Logistics Solutions stock opened at $6.27 on Friday. The stock has a market cap of $294.06 million, a P/E ratio of 8.04 and a beta of 0.86. The company has a fifty day simple moving average of $6.64 and a 200-day simple moving average of $7.12. The company has a current ratio of 2.16, a quick ratio of 1.82 and a debt-to-equity ratio of 0.57. Pangaea Logistics Solutions has a 12-month low of $5.74 and a 12-month high of $9.52.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings data 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). The company had revenue of $131.50 million for the quarter, compared to analyst estimates of $98.09 million. Pangaea Logistics Solutions had a return on equity of 8.76% and a net margin of 7.02%. During the same period in the previous year, the business posted $0.10 EPS. Equities analysts expect that Pangaea Logistics Solutions will post 0.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Pangaea Logistics Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC lifted its position in Pangaea Logistics Solutions by 131.7% in the second quarter. AQR Capital Management LLC now owns 265,177 shares of the shipping company’s stock valued at $2,076,000 after purchasing an additional 150,713 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Pangaea Logistics Solutions by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,853,611 shares of the shipping company’s stock valued at $14,514,000 after buying an additional 112,298 shares during the period. American Century Companies Inc. boosted its stake in shares of Pangaea Logistics Solutions by 14.1% in the second quarter. American Century Companies Inc. now owns 725,829 shares of the shipping company’s stock valued at $5,683,000 after buying an additional 89,570 shares in the last quarter. Kingsview Wealth Management LLC acquired a new position in Pangaea Logistics Solutions during the first quarter worth $425,000. Finally, Marshall Wace LLP purchased a new position in Pangaea Logistics Solutions in the second quarter worth $381,000. 60.23% of the stock is currently owned by hedge funds and other institutional investors.

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.