Pangaea Logistics Solutions (NASDAQ:PANL) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a buy rating to a hold rating in a report published on Saturday morning.

A number of other equities research analysts have also recently issued reports on the company. Zacks Research cut Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. B. Riley Financial reaffirmed a “buy” rating on shares of Pangaea Logistics Solutions in a report on Wednesday, January 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.00.

Pangaea Logistics Solutions Trading Down 2.8%

NASDAQ:PANL opened at $6.83 on Friday. The company has a market cap of $443.75 million, a PE ratio of 22.03 and a beta of 0.77. The business’s 50 day moving average is $8.12 and its two-hundred day moving average is $6.68. The company has a quick ratio of 1.35, a current ratio of 1.62 and a debt-to-equity ratio of 0.72. Pangaea Logistics Solutions has a 52 week low of $3.93 and a 52 week high of $9.39.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its quarterly earnings data on Tuesday, March 10th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). The firm had revenue of $183.88 million for the quarter, compared to the consensus estimate of $181.75 million. Pangaea Logistics Solutions had a return on equity of 3.82% and a net margin of 3.06%. On average, analysts predict that Pangaea Logistics Solutions will post 0.43 EPS for the current year.

Pangaea Logistics Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, February 27th. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 64.52%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

A number of institutional investors and hedge funds have recently modified their holdings of PANL. Dimensional Fund Advisors LP increased its stake in Pangaea Logistics Solutions by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,533,085 shares of the shipping company’s stock worth $17,428,000 after purchasing an additional 100,331 shares in the last quarter. Cable Car Capital LP lifted its stake in Pangaea Logistics Solutions by 2.1% during the second quarter. Cable Car Capital LP now owns 985,623 shares of the shipping company’s stock valued at $4,632,000 after buying an additional 20,000 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Pangaea Logistics Solutions by 4.3% in the second quarter. Bridgeway Capital Management LLC now owns 707,479 shares of the shipping company’s stock worth $3,325,000 after buying an additional 29,260 shares during the period. Millennium Management LLC boosted its holdings in shares of Pangaea Logistics Solutions by 1,846.9% in the fourth quarter. Millennium Management LLC now owns 438,987 shares of the shipping company’s stock worth $3,020,000 after buying an additional 416,439 shares during the period. Finally, Empowered Funds LLC increased its position in shares of 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 acquiring an additional 25,851 shares in the last quarter. 60.23% of the stock is owned by institutional investors and hedge funds.

About Pangaea Logistics Solutions

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.