Pangaea Logistics Solutions (NASDAQ:PANL) Releases Earnings Results

Pangaea Logistics Solutions (NASDAQ:PANL) released its earnings results on Monday. The shipping company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02, Zacks reports. Pangaea Logistics Solutions had a net margin of 5.10% and a return on equity of 5.71%. The company had revenue of $187.12 million for the quarter, compared to analysts’ expectations of $192.76 million.

Pangaea Logistics Solutions Trading Down 1.2%

Pangaea Logistics Solutions stock traded down $0.09 during midday trading on Monday, reaching $7.33. The stock had a trading volume of 433,061 shares, compared to its average volume of 596,835. The company has a quick ratio of 1.37, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The firm has a market cap of $479.53 million, a price-to-earnings ratio of 13.33 and a beta of 0.79. Pangaea Logistics Solutions has a 52-week low of $4.54 and a 52-week high of $9.39. The company has a fifty day moving average of $7.26 and a 200 day moving average of $7.71.

Analyst Ratings Changes

PANL has been the subject of a number of research analyst reports. Weiss Ratings lowered Pangaea Logistics Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. Wall Street Zen upgraded shares of Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Pangaea Logistics Solutions currently has a consensus rating of “Hold” and an average price target of $9.00.

Institutional Trading of Pangaea Logistics Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its stake in Pangaea Logistics Solutions by 89.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock worth $31,000 after buying an additional 2,864 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Pangaea Logistics Solutions by 110.0% in the second quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company’s stock valued at $43,000 after purchasing an additional 4,825 shares during the period. Algert Global LLC bought a new position in Pangaea Logistics Solutions in the third quarter worth approximately $53,000. Kemnay Advisory Services Inc. purchased a new position in Pangaea Logistics Solutions during the 4th quarter worth $53,000. Finally, Two Sigma Investments LP bought a new stake in Pangaea Logistics Solutions during the 3rd quarter valued at $63,000. Hedge funds and other institutional investors own 60.23% of the company’s stock.

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.