Pangaea Logistics Solutions (NASDAQ:PANL) Reaches New 52-Week High – Still a Buy?

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL)’s share price hit a new 52-week high on Thursday . The stock traded as high as $8.15 and last traded at $8.7190, with a volume of 425704 shares trading hands. The stock had previously closed at $7.14.

Analysts Set New Price Targets

PANL has been the subject of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research note on Monday, December 29th. Wall Street Zen upgraded Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a research report on Monday, December 1st. Finally, Zacks Research cut Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Pangaea Logistics Solutions has a consensus rating of “Hold” and a consensus price target of $9.00.

Pangaea Logistics Solutions Stock Up 19.5%

The company has a debt-to-equity ratio of 0.72, a current ratio of 1.62 and a quick ratio of 1.35. The firm has a market cap of $554.32 million, a price-to-earnings ratio of 28.27 and a beta of 0.79. The firm has a 50 day moving average price of $6.93 and a 200-day moving average price of $5.77.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its quarterly earnings data on Thursday, November 6th. The shipping company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.14. The firm had revenue of $168.67 million during the quarter, compared to analyst estimates of $159.32 million. Pangaea Logistics Solutions had a return on equity of 3.26% and a net margin of 2.67%. As a group, equities analysts predict that Pangaea Logistics Solutions Ltd. will post 0.43 EPS for the current fiscal year.

Pangaea Logistics Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.3%. Pangaea Logistics Solutions’s payout ratio is 66.67%.

Institutional Trading of Pangaea Logistics Solutions

A number of institutional investors and hedge funds have recently modified their holdings of PANL. AQR Capital Management LLC acquired a new stake in shares of Pangaea Logistics Solutions in the 1st quarter valued at approximately $195,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Pangaea Logistics Solutions by 18.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,342 shares of the shipping company’s stock valued at $102,000 after purchasing an additional 3,344 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Pangaea Logistics Solutions by 6.6% in the first quarter. Goldman Sachs Group Inc. now owns 233,537 shares of the shipping company’s stock valued at $1,112,000 after purchasing an additional 14,357 shares in the last quarter. Empowered Funds LLC raised its holdings in Pangaea Logistics Solutions by 7.3% in the first quarter. Empowered Funds LLC now owns 381,919 shares of the shipping company’s stock worth $1,818,000 after purchasing an additional 25,851 shares during the period. Finally, Creative Planning boosted its position in shares of Pangaea Logistics Solutions by 94.2% during the second quarter. Creative Planning now owns 23,094 shares of the shipping company’s stock worth $109,000 after purchasing an additional 11,204 shares in the last quarter. 60.23% of the stock is owned by institutional investors.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions Ltd. is a global transportation and logistics company that provides ocean transportation and integrated logistics services. The company operates a fleet of drybulk vessels, including Handysize, Supramax and Ultramax carriers, to transport commodities such as coal, grain, minerals, ores and steel products. In parallel, Pangaea offers asset-light logistics solutions spanning freight forwarding, supply chain management and project cargo services, enabling end-to-end transport for bulk and breakbulk shipments.

Founded in 2012 as a spin-off from an established maritime shipping group, Pangaea Logistics Solutions went public on the Nasdaq in 2013 under the ticker PANL.