Pangaea Logistics Solutions (NASDAQ:PANL) Upgraded at Wall Street Zen

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

A number of other research firms also recently issued reports on PANL. Zacks Research downgraded shares of Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. B. Riley Financial restated 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 research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $9.00.

Pangaea Logistics Solutions Trading Up 2.6%

Shares of PANL stock opened at $7.12 on Friday. The company has a market cap of $465.08 million, a P/E ratio of 22.97 and a beta of 0.77. The stock has a 50 day simple moving average of $8.14 and a two-hundred day simple moving average of $6.77. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.46 and a current ratio of 1.69. Pangaea Logistics Solutions has a fifty-two week low of $3.93 and a fifty-two week high of $9.39.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings results 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 business had revenue of $183.88 million during the quarter, compared to analyst estimates of $181.75 million. Pangaea Logistics Solutions had a net margin of 3.06% and a return on equity of 3.80%. Research analysts forecast that Pangaea Logistics Solutions will post 0.43 earnings per share for the current year.

Pangaea Logistics Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, February 27th. Pangaea Logistics Solutions’s dividend payout ratio is presently 64.52%.

Institutional Trading of Pangaea Logistics Solutions

Hedge funds have recently bought and sold shares of the business. LOM Asset Management Ltd bought a new stake in Pangaea Logistics Solutions during the 4th quarter valued at $34,000. BNP Paribas Financial Markets lifted its stake in shares of Pangaea Logistics Solutions by 89.9% in the third quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock valued at $31,000 after buying an additional 2,864 shares in the last quarter. Kemnay Advisory Services Inc. bought a new position in shares of Pangaea Logistics Solutions in the fourth quarter valued at $53,000. Tower Research Capital LLC TRC grew its holdings in shares of Pangaea Logistics Solutions by 110.0% during the second quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company’s stock valued at $43,000 after buying an additional 4,825 shares during the last quarter. Finally, Algert Global LLC acquired a new position in shares of Pangaea Logistics Solutions during the third quarter valued at about $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.