Pangaea Logistics Solutions Ltd. (NASDAQ:PANL – Get Free Report)’s stock price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $8.08 and traded as low as $7.09. Pangaea Logistics Solutions shares last traded at $7.24, with a volume of 576,934 shares trading hands.
Analyst Ratings Changes
Several research firms have recently weighed in on PANL. Zacks Research lowered shares of Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Wall Street Zen raised shares of Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a report on Sunday, March 22nd. B. Riley Financial reaffirmed a “buy” rating on shares of Pangaea Logistics Solutions in a report on Wednesday, January 28th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pangaea Logistics Solutions in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Pangaea Logistics Solutions has a consensus rating of “Hold” and a consensus price target of $9.00.
View Our Latest Stock Report on Pangaea Logistics Solutions
Pangaea Logistics Solutions Stock Up 0.7%
Pangaea Logistics Solutions (NASDAQ:PANL – Get Free Report) last released its quarterly earnings results on Tuesday, March 10th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Pangaea Logistics Solutions had a net margin of 3.06% and a return on equity of 3.80%. The company had revenue of $183.88 million during the quarter, compared to analyst estimates of $181.75 million. On average, sell-side analysts predict that Pangaea Logistics Solutions Ltd. will post 0.43 EPS for the current fiscal year.
Pangaea Logistics Solutions Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.20 dividend on an annualized basis and a yield of 2.8%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is currently 64.52%.
Institutional Investors Weigh In On Pangaea Logistics Solutions
Institutional investors have recently added to or reduced their stakes in the stock. Jain Global LLC acquired a new stake in Pangaea Logistics Solutions in the 4th quarter valued at $89,000. Sherbrooke Park Advisers LLC acquired a new stake in Pangaea Logistics Solutions during the 3rd quarter worth $74,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Pangaea Logistics Solutions during the third quarter worth $73,000. Two Sigma Investments LP purchased a new stake in shares of Pangaea Logistics Solutions during the third quarter worth $63,000. Finally, Algert Global LLC purchased a new stake in shares of Pangaea Logistics Solutions during the third quarter worth $53,000. Institutional investors and hedge funds own 60.23% of the company’s stock.
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.
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