Pangaea Logistics Solutions (NASDAQ:PANL) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a hold rating to a buy rating in a report published on Thursday morning.

Pangaea Logistics Solutions Price Performance

Shares of NASDAQ PANL opened at $6.45 on Thursday. The company has a quick ratio of 1.82, a current ratio of 2.16 and a debt-to-equity ratio of 0.57. Pangaea Logistics Solutions has a fifty-two week low of $5.51 and a fifty-two week high of $9.52. The business has a 50 day moving average price of $6.74 and a two-hundred day moving average price of $7.19. The firm has a market cap of $302.52 million, a PE ratio of 8.49 and a beta of 0.85.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings results on Thursday, August 8th. The shipping company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). Pangaea Logistics Solutions had a return on equity of 8.76% and a net margin of 7.02%. The company had revenue of $131.50 million for the quarter, compared to analyst estimates of $98.09 million. During the same period in the previous year, the business posted $0.10 EPS. Sell-side analysts expect that Pangaea Logistics Solutions will post 0.76 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were given a dividend of $0.10 per share. The ex-dividend date was Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 6.20%. Pangaea Logistics Solutions’s payout ratio is 52.63%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PANL. Cubist Systematic Strategies LLC acquired a new stake in shares of Pangaea Logistics Solutions during the 2nd quarter valued at approximately $270,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Pangaea Logistics Solutions during the second quarter worth $58,000. Algert Global LLC lifted its position in shares of Pangaea Logistics Solutions by 20.1% in the 2nd quarter. Algert Global LLC now owns 18,215 shares of the shipping company’s stock worth $143,000 after buying an additional 3,044 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of Pangaea Logistics Solutions in the 2nd quarter valued at about $110,000. Finally, AQR Capital Management LLC grew its position in shares of Pangaea Logistics Solutions by 131.7% during the 2nd quarter. AQR Capital Management LLC now owns 265,177 shares of the shipping company’s stock valued at $2,076,000 after buying an additional 150,713 shares during the last quarter. Institutional investors and hedge funds own 60.23% of the company’s stock.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.