Pangaea Logistics Solutions (NASDAQ:PANL) Hits New 52-Week High – Still a Buy?

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research note on Monday, December 29th. Wall Street Zen upgraded Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a report on Monday, December 1st. B. Riley Financial reissued a “buy” rating on shares of Pangaea Logistics Solutions in a research report on Wednesday, January 28th. Finally, Zacks Research cut Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $9.00.

Pangaea Logistics Solutions Stock Up 0.9%

The company has a market cap of $607.47 million, a price-to-earnings ratio of 31.17 and a beta of 0.79. 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 firm has a 50-day moving average price of $7.85 and a 200 day moving average price of $6.46.

Pangaea Logistics Solutions Announces Dividend

The business also recently declared 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 yield of 2.1%. Pangaea Logistics Solutions’s dividend payout ratio is currently 66.67%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. BNP Paribas Financial Markets increased its position in shares of Pangaea Logistics Solutions by 89.9% during the third 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 period. LOM Asset Management Ltd bought a new position in shares of Pangaea Logistics Solutions in the fourth quarter valued at approximately $34,000. Tower Research Capital LLC TRC raised its stake in shares of Pangaea Logistics Solutions by 110.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,211 shares of the shipping company’s stock worth $43,000 after purchasing an additional 4,825 shares during the period. Algert Global LLC bought a new stake in Pangaea Logistics Solutions in the third quarter worth about $53,000. Finally, Kemnay Advisory Services Inc. purchased a new position in Pangaea Logistics Solutions in the fourth quarter valued at approximately $53,000. 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.