Pangaea Logistics Solutions (NASDAQ:PANL) Upgraded at StockNews.com

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

Pangaea Logistics Solutions Stock Performance

Shares of PANL opened at $6.50 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.82 and a current ratio of 2.16. The stock has a market capitalization of $304.86 million, a P/E ratio of 8.55 and a beta of 0.86. The company’s fifty day moving average is $6.65 and its two-hundred day moving average is $7.14. Pangaea Logistics Solutions has a 1 year low of $5.74 and a 1 year high of $9.52.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted 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 last year, the company earned $0.10 earnings per share. On average, sell-side analysts predict that Pangaea Logistics Solutions will post 0.76 earnings per share for the current 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 paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.15%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 52.63%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Lakewood Asset Management LLC grew its stake in shares of Pangaea Logistics Solutions by 8.4% during the 3rd quarter. Lakewood Asset Management LLC now owns 36,337 shares of the shipping company’s stock worth $263,000 after purchasing an additional 2,830 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Pangaea Logistics Solutions during the 2nd quarter worth $270,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Pangaea Logistics Solutions during the 2nd quarter worth $58,000. Algert Global LLC grew its stake in shares of Pangaea Logistics Solutions by 20.1% during the 2nd quarter. Algert Global LLC now owns 18,215 shares of the shipping company’s stock worth $143,000 after purchasing an additional 3,044 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in shares of Pangaea Logistics Solutions in the 2nd quarter worth about $110,000. 60.23% of the stock is owned by institutional investors and hedge funds.

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.