Pangaea Logistics Solutions (NASDAQ:PANL) Shares Up 5.3% – Here’s Why

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) shot up 5.3% during mid-day trading on Wednesday . The stock traded as high as $8.79 and last traded at $8.55. 569,555 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 697,848 shares. The stock had previously closed at $8.12.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wall Street Zen raised shares of Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a research note on Monday, December 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research report on Monday, December 29th. Zacks Research cut Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, B. Riley reaffirmed a “buy” rating on shares of Pangaea Logistics Solutions in a research note on Wednesday. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.00.

Pangaea Logistics Solutions Price Performance

The company has a debt-to-equity ratio of 0.72, a current ratio of 1.62 and a quick ratio of 1.35. The business’s fifty day simple moving average is $7.17 and its 200 day simple moving average is $5.91. The firm has a market capitalization of $550.95 million, a price-to-earnings ratio of 28.27 and a beta of 0.79.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings results on Thursday, November 6th. The shipping company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.14. Pangaea Logistics Solutions had a return on equity of 3.26% and a net margin of 2.67%.The business had revenue of $168.67 million for the quarter, compared to the consensus estimate of $159.32 million. On average, research analysts forecast that Pangaea Logistics Solutions Ltd. will post 0.43 EPS for the current year.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, December 1st. Pangaea Logistics Solutions’s dividend payout ratio is currently 66.67%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Several large investors have recently bought and sold shares of the stock. Alliancebernstein L.P. grew its stake in shares of Pangaea Logistics Solutions by 7.0% in the 3rd quarter. Alliancebernstein L.P. now owns 35,010 shares of the shipping company’s stock worth $178,000 after acquiring an additional 2,300 shares in the last quarter. Lakewood Asset Management LLC increased its stake in Pangaea Logistics Solutions by 7.3% in the 4th quarter. Lakewood Asset Management LLC now owns 39,542 shares of the shipping company’s stock valued at $272,000 after buying an additional 2,705 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Pangaea Logistics Solutions by 89.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,050 shares of the shipping company’s stock worth $31,000 after buying an additional 2,864 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 acquiring an additional 3,344 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Pangaea Logistics Solutions by 110.0% during the second quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company’s stock valued at $43,000 after acquiring an additional 4,825 shares during the last quarter. 60.23% of the stock is currently owned by institutional investors.

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.