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

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

Pangaea Logistics Solutions Trading Up 1.7 %

Shares of Pangaea Logistics Solutions stock opened at $6.41 on Friday. The stock has a market capitalization of $300.63 million, a P/E ratio of 13.64 and a beta of 0.87. Pangaea Logistics Solutions has a 52-week low of $6.09 and a 52-week high of $9.52. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.82 and a current ratio of 2.16. The stock’s 50-day simple moving average is $6.57 and its 200 day simple moving average is $7.09.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its quarterly earnings results on Tuesday, November 12th. The shipping company reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. Pangaea Logistics Solutions had a net margin of 4.14% and a return on equity of 7.90%. The company had revenue of $153.12 million for the quarter, compared to analysts’ expectations of $138.65 million. As a group, research analysts anticipate that Pangaea Logistics Solutions will post 0.76 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PANL. AQR Capital Management LLC lifted its holdings in shares of 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 worth $2,076,000 after buying an additional 150,713 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in 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 worth $14,514,000 after purchasing an additional 112,298 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Pangaea Logistics Solutions in the 3rd quarter valued at $761,000. American Century Companies Inc. grew its position in shares of Pangaea Logistics Solutions by 14.1% during the 2nd quarter. American Century Companies Inc. now owns 725,829 shares of the shipping company’s stock valued at $5,683,000 after purchasing an additional 89,570 shares in the last quarter. Finally, Kingsview Wealth Management LLC bought a new position in shares of Pangaea Logistics Solutions in the first quarter worth $425,000. Hedge funds and other institutional investors own 60.23% of the company’s stock.

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.