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

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL)’s share price gapped up prior to trading on Monday. The stock had previously closed at $7.57, but opened at $8.10. Pangaea Logistics Solutions shares last traded at $8.3050, with a volume of 136,932 shares changing hands.

Analyst Ratings Changes

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 research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Pangaea Logistics Solutions Trading Up 7.3%

The stock has a market capitalization of $531.68 million, a P/E ratio of 7.05 and a beta of 0.91. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.38 and a quick ratio of 1.12. The business’s 50 day simple moving average is $8.12 and its 200-day simple moving average is $7.82.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings results on Thursday, November 5th. The shipping company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.21. Pangaea Logistics Solutions had a return on equity of 13.94% and a net margin of 9.68%. The company had revenue of $219.06 million for the quarter, compared to the consensus estimate of $204.90 million. As a group, analysts forecast that Pangaea Logistics Solutions Ltd. will post 0.81 EPS for the current year.

Pangaea Logistics Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Tuesday, December 1st. Pangaea Logistics Solutions’s dividend payout ratio is currently 34.78%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Institutional investors have recently modified their holdings of the stock. Ritholtz Wealth Management increased its stake in shares of Pangaea Logistics Solutions by 143.8% in the 3rd quarter. Ritholtz Wealth Management now owns 197,773 shares of the shipping company’s stock valued at $1,586,000 after acquiring an additional 116,658 shares during the last quarter. Ethic Inc. acquired a new stake in shares of Pangaea Logistics Solutions in the 3rd quarter valued at approximately $94,000. Lakewood Asset Management LLC raised its position in shares of Pangaea Logistics Solutions by 6.8% in the 3rd quarter. Lakewood Asset Management LLC now owns 45,173 shares of the shipping company’s stock valued at $362,000 after acquiring an additional 2,894 shares during the period. State of Alaska Department of Revenue boosted its stake in Pangaea Logistics Solutions by 77.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 5,238 shares of the shipping company’s stock worth $41,000 after acquiring an additional 2,289 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in Pangaea Logistics Solutions by 25.0% during the 2nd quarter. Tidal Investments LLC now owns 49,705 shares of the shipping company’s stock worth $323,000 after acquiring an additional 9,943 shares during 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 global provider of drybulk shipping and logistics services. The company transports industrial commodities for customers and manages the movement of cargo from origin to destination, combining marine transportation with related supply-chain services.

Pangaea owns and operates a fleet of drybulk vessels, including Handysize, Supramax and Panamax-class ships. Its cargoes include a range of drybulk commodities such as coal, grain, cement, salt, gypsum, dolomite and iron ore.