Pangaea Logistics Solutions (NASDAQ:PANL) Trading Down 5.5% – Here’s What Happened

Shares of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) traded down 5.5% on Thursday . The company traded as low as $7.68 and last traded at $7.6950. 449,523 shares traded hands during trading, a decline of 31% from the average session volume of 647,929 shares. The stock had previously closed at $8.14.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Weiss Ratings lowered shares of Pangaea Logistics Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Pangaea Logistics Solutions currently has a consensus rating of “Hold” and an average target price of $9.00.

Pangaea Logistics Solutions Stock Performance

The stock has a market cap of $495.23 million, a P/E ratio of 13.76 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 1.37. The stock’s 50 day simple moving average is $7.59 and its two-hundred day simple moving average is $7.57.

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

Pangaea Logistics Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Monday, June 1st. Pangaea Logistics Solutions’s payout ratio is 36.36%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Millennium Management LLC lifted its stake in Pangaea Logistics Solutions by 1,846.9% in the 4th quarter. Millennium Management LLC now owns 438,987 shares of the shipping company’s stock valued at $3,020,000 after acquiring an additional 416,439 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Pangaea Logistics Solutions by 13.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,884,470 shares of the shipping company’s stock worth $20,421,000 after acquiring an additional 351,385 shares in the last quarter. Renaissance Technologies LLC raised its holdings 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 purchasing an additional 185,100 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of Pangaea Logistics Solutions in the first quarter valued at approximately $933,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Pangaea Logistics Solutions by 44.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 373,734 shares of the shipping company’s stock worth $2,571,000 after purchasing an additional 115,257 shares in the last quarter. 60.23% of the stock is currently owned by institutional investors.

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.