Pangaea Logistics Solutions (NASDAQ:PANL) Lowered to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a strong-buy rating to a hold rating in a research note published on Tuesday morning,Zacks.com reports.

A number of other equities analysts have also recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research report on Monday, December 29th. 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. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Pangaea Logistics Solutions currently has an average rating of “Hold” and an average target price of $9.00.

Pangaea Logistics Solutions Stock Performance

Shares of NASDAQ PANL opened at $6.90 on Tuesday. The stock’s 50-day moving average is $6.65 and its 200 day moving average is $5.63. The stock has a market cap of $448.29 million, a price-to-earnings ratio of 23.00 and a beta of 0.79. Pangaea Logistics Solutions has a 1-year low of $3.93 and a 1-year high of $7.41. The company has a current ratio of 1.62, a quick ratio of 1.35 and a debt-to-equity ratio of 0.72.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its earnings results on Thursday, November 6th. The shipping company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.14. The business had revenue of $168.67 million during the quarter, compared to analyst estimates of $159.32 million. Pangaea Logistics Solutions had a return on equity of 3.26% and a net margin of 2.67%. On average, sell-side analysts anticipate that Pangaea Logistics Solutions will post 0.43 EPS for the current fiscal 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 dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, December 1st. Pangaea Logistics Solutions’s dividend payout ratio is currently 66.67%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC purchased a new stake in shares of Pangaea Logistics Solutions in the 1st quarter worth about $195,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in 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 worth $102,000 after buying an additional 3,344 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Pangaea Logistics Solutions by 6.6% in the first quarter. Goldman Sachs Group Inc. now owns 233,537 shares of the shipping company’s stock worth $1,112,000 after buying an additional 14,357 shares in the last quarter. Empowered Funds LLC lifted its holdings in Pangaea Logistics Solutions by 7.3% in the first quarter. Empowered Funds LLC now owns 381,919 shares of the shipping company’s stock worth $1,818,000 after buying an additional 25,851 shares during the period. Finally, Creative Planning boosted its position in Pangaea Logistics Solutions by 94.2% during the 2nd quarter. Creative Planning now owns 23,094 shares of the shipping company’s stock valued at $109,000 after acquiring an additional 11,204 shares in the last quarter. 60.23% of the stock is owned by hedge funds and other 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.