Pangaea Logistics Solutions (NASDAQ:PANL) Stock Price Down 8.3% – What’s Next?

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL)’s share price dropped 8.3% during trading on Wednesday . The company traded as low as $7.96 and last traded at $7.9250. Approximately 369,468 shares were traded during trading, a decline of 42% from the average daily volume of 633,004 shares. The stock had previously closed at $8.64.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Weiss Ratings raised Pangaea Logistics Solutions from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday. Wall Street Zen cut shares of Pangaea Logistics Solutions from a “strong-buy” rating to a “buy” rating in a research report on Sunday, April 19th. Finally, B. Riley Financial reissued a “buy” rating on shares of Pangaea Logistics Solutions in a report on Wednesday, January 28th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Pangaea Logistics Solutions presently has an average rating of “Moderate Buy” and an average price target of $9.00.

Pangaea Logistics Solutions Stock Down 2.2%

The stock has a market capitalization of $528.92 million, a price-to-earnings ratio of 14.72 and a beta of 0.81. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.46. The business has a fifty day moving average of $7.51 and a 200 day moving average of $7.35.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its earnings results on Monday, May 11th. The shipping company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. Pangaea Logistics Solutions had a return on equity of 5.71% and a net margin of 5.10%.The company had revenue of $170.58 million for the quarter, compared to the consensus estimate of $165.79 million. As a group, equities analysts predict that Pangaea Logistics Solutions Ltd. will post 0.71 earnings per share for the current year.

Pangaea Logistics Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.20 dividend on an annualized basis and a yield of 2.5%. Pangaea Logistics Solutions’s dividend payout ratio is presently 36.36%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

A number of hedge funds have recently made changes to their positions in PANL. Renaissance Technologies LLC grew its stake in shares of Pangaea Logistics Solutions by 33.0% in the first quarter. Renaissance Technologies LLC now owns 746,100 shares of the shipping company’s stock valued at $5,282,000 after buying an additional 185,100 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Pangaea Logistics Solutions by 66.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 208,875 shares of the shipping company’s stock worth $1,479,000 after purchasing an additional 83,380 shares in the last quarter. Sei Investments Co. acquired a new stake in Pangaea Logistics Solutions in the 1st quarter valued at about $933,000. Dimensional Fund Advisors LP raised its position in Pangaea Logistics Solutions by 13.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,884,470 shares of the shipping company’s stock valued at $20,421,000 after purchasing an additional 351,385 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Pangaea Logistics Solutions by 2.2% in the 1st quarter. Bank of New York Mellon Corp now owns 80,261 shares of the shipping company’s stock valued at $568,000 after buying an additional 1,732 shares during the period. 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.