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

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

Separately, Alliance Global Partners cut Pangaea Logistics Solutions from a “buy” rating to a “neutral” rating and set a $8.75 target price for the company. in a report on Monday, February 5th.

Pangaea Logistics Solutions Stock Up 1.9 %

Shares of PANL opened at $6.97 on Wednesday. The firm has a market capitalization of $325.64 million, a P/E ratio of 11.81 and a beta of 0.86. Pangaea Logistics Solutions has a 12-month low of $5.23 and a 12-month high of $9.52. The firm has a fifty day moving average price of $8.22 and a 200-day moving average price of $7.28. The company has a current ratio of 1.82, a quick ratio of 1.66 and a debt-to-equity ratio of 0.57.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its earnings results on Wednesday, March 13th. The shipping company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.28). Pangaea Logistics Solutions had a return on equity of 8.54% and a net margin of 5.27%. The company had revenue of $131.88 million during the quarter, compared to the consensus estimate of $152.31 million. During the same quarter in the prior year, the company earned $0.32 earnings per share. Equities research analysts expect that Pangaea Logistics Solutions will post 0.85 earnings per share for the current year.

Hedge Funds Weigh In On Pangaea Logistics Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of PANL. BlackRock Inc. increased its holdings in shares of Pangaea Logistics Solutions by 707.9% in the 2nd quarter. BlackRock Inc. now owns 2,120,782 shares of the shipping company’s stock valued at $14,358,000 after acquiring an additional 1,858,287 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Pangaea Logistics Solutions by 9.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,267,123 shares of the shipping company’s stock worth $8,578,000 after acquiring an additional 111,522 shares in the last quarter. Cable Car Capital LLC purchased a new stake in Pangaea Logistics Solutions during the fourth quarter valued at approximately $7,299,000. Geode Capital Management LLC boosted its stake in Pangaea Logistics Solutions by 92.0% in the second quarter. Geode Capital Management LLC now owns 711,450 shares of the shipping company’s stock valued at $4,817,000 after acquiring an additional 340,906 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Pangaea Logistics Solutions by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 688,333 shares of the shipping company’s stock valued at $5,672,000 after acquiring an additional 11,522 shares in the last quarter. 60.23% of the stock is currently owned by institutional investors.

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.