Pangaea Logistics Solutions (NASDAQ:PANL) Shares Gap Up – What’s Next?

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) shares gapped up before the market opened on Monday. The stock had previously closed at $8.32, but opened at $8.65. Pangaea Logistics Solutions shares last traded at $8.4740, with a volume of 29,576 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Pangaea Logistics Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, September 14th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Pangaea Logistics Solutions currently has an average rating of “Moderate Buy”.

Pangaea Logistics Solutions Stock Up 0.5%

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.12 and a current ratio of 1.38. The firm’s 50-day moving average is $8.10 and its 200 day moving average is $7.68. The firm has a market capitalization of $555.19 million, a PE ratio of 12.05 and a beta of 0.82.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings data on Monday, August 10th. The shipping company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The firm had revenue of $187.12 million for the quarter, compared to analysts’ expectations of $192.76 million. Pangaea Logistics Solutions had a net margin of 6.70% and a return on equity of 9.42%. As a group, research analysts forecast that Pangaea Logistics Solutions Ltd. will post 0.81 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a $0.10 dividend. This is a boost from Pangaea Logistics Solutions’s previous quarterly dividend of $0.05. This represents a $0.40 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Tuesday, September 1st. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is currently 53.33%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Ritholtz Wealth Management purchased a new stake in Pangaea Logistics Solutions during the 1st quarter worth about $158,000. Bank of America Corp DE raised its stake in Pangaea Logistics Solutions by 5.6% in the 1st quarter. Bank of America Corp DE now owns 28,844 shares of the shipping company’s stock valued at $204,000 after purchasing an additional 1,534 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new position in Pangaea Logistics Solutions in the 1st quarter valued at about $242,000. Relyea Zuckerberg Hanson LLC lifted its holdings in Pangaea Logistics Solutions by 61.3% in the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 37,228 shares of the shipping company’s stock valued at $264,000 after purchasing an additional 14,151 shares in the last quarter. Finally, Tidal Investments LLC lifted its holdings in Pangaea Logistics Solutions by 25.0% in the 2nd quarter. Tidal Investments LLC now owns 49,705 shares of the shipping company’s stock valued at $323,000 after purchasing an additional 9,943 shares in the last quarter. 60.23% of the stock is currently owned by institutional investors and hedge funds.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) is a drybulk shipping and logistics company that provides ocean transportation services for industrial and agricultural commodities. The company transports cargoes such as coal, grain, salt, gypsum, dolomite, bauxite and other bulk materials for customers involved in mining, energy, construction and manufacturing.

Pangaea owns and operates a fleet of drybulk vessels and also charters additional ships to support its transportation activities.