Pangaea Logistics Solutions (NASDAQ:PANL) Stock Price Up 6.1% – Time to Buy?

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL)’s share price traded up 6.1% during trading on Thursday. The stock traded as high as $9.32 and last traded at $9.3810. 246,860 shares were traded during trading, a decline of 54% from the average session volume of 541,328 shares. The stock had previously closed at $8.84.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PANL. Weiss Ratings upgraded Pangaea Logistics Solutions from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday. Zacks Research raised shares of Pangaea Logistics Solutions from a “hold” rating to a “strong-buy” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Pangaea Logistics Solutions Stock Up 8.5%

The firm has a 50 day moving average price of $8.15 and a two-hundred day moving average price of $7.83. The company has a quick ratio of 1.12, a current ratio of 1.52 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $628.18 million, a price-to-earnings ratio of 8.35 and a beta of 0.91.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings data 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 13.64% and a net margin of 9.68%. The firm had revenue of $219.06 million during the quarter, compared to analyst estimates of $204.90 million. As a group, sell-side analysts expect that Pangaea Logistics Solutions Ltd. will post 1.22 earnings per share for the current year.

Pangaea Logistics Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.2%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 34.78%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its position in shares of 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 period. Bank of New York Mellon Corp raised its holdings in Pangaea Logistics Solutions by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 80,261 shares of the shipping company’s stock worth $568,000 after buying an additional 1,732 shares during the period. State of Alaska Department of Revenue lifted its stake in Pangaea Logistics Solutions by 77.6% during the third quarter. State of Alaska Department of Revenue now owns 5,238 shares of the shipping company’s stock valued at $41,000 after buying an additional 2,289 shares in the last quarter. Lakewood Asset Management LLC lifted its stake in Pangaea Logistics Solutions by 6.8% during the third quarter. Lakewood Asset Management LLC now owns 45,173 shares of the shipping company’s stock valued at $362,000 after buying an additional 2,894 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in Pangaea Logistics Solutions by 25.0% during the second quarter. Tidal Investments LLC now owns 49,705 shares of the shipping company’s stock valued at $323,000 after buying an additional 9,943 shares in the last quarter. 60.23% of the stock is owned by hedge funds and other institutional investors.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions Ltd. is a global provider of dry-bulk shipping and logistics services. The company transports commodities such as minerals, grain and other bulk cargoes, coordinating ocean carriage with related logistics services. Its operations include vessel ownership and chartering, cargo planning, port and terminal services, stevedoring, and cargo loading and unloading. Pangaea also operates specialized vessels, including ice-class ships designed to serve ports and routes with challenging ice conditions.