Pangaea Logistics Solutions (NASDAQ:PANL) Hits New 52-Week High – Here’s Why

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $9.39 and last traded at $9.34, with a volume of 487141 shares. The stock had previously closed at $9.27.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PANL shares. Zacks Research lowered 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pangaea Logistics Solutions in a report on Monday, December 29th. Finally, Wall Street Zen raised shares of Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a research report on Monday, December 1st. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Pangaea Logistics Solutions currently has a consensus rating of “Hold” and an average target price of $9.00.

Pangaea Logistics Solutions Stock Up 0.9%

The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.35 and a current ratio of 1.62. The stock has a market capitalization of $607.51 million, a price-to-earnings ratio of 31.17 and a beta of 0.79. The business has a 50-day moving average of $7.80 and a 200-day moving average of $6.42.

Pangaea Logistics Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.1%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 66.67%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC acquired a new position in Pangaea Logistics Solutions in the 1st quarter valued at about $195,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Pangaea Logistics Solutions by 18.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,342 shares of the shipping company’s stock valued at $102,000 after purchasing an additional 3,344 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Pangaea Logistics Solutions by 6.6% in the first quarter. Goldman Sachs Group Inc. now owns 233,537 shares of the shipping company’s stock valued at $1,112,000 after purchasing an additional 14,357 shares in the last quarter. Empowered Funds LLC increased its stake in Pangaea Logistics Solutions by 7.3% during the 1st quarter. Empowered Funds LLC now owns 381,919 shares of the shipping company’s stock worth $1,818,000 after buying an additional 25,851 shares during the period. Finally, Creative Planning lifted its holdings in Pangaea Logistics Solutions by 94.2% during the 2nd quarter. Creative Planning now owns 23,094 shares of the shipping company’s stock worth $109,000 after buying an additional 11,204 shares in the last quarter. Hedge funds and other institutional investors 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.