Pangaea Logistics Solutions (NASDAQ:PANL) Reaches New 1-Year High – Time to Buy?

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $9.22 and last traded at $9.1510, with a volume of 292156 shares. The stock had previously closed at $9.03.

Wall Street Analyst Weigh In

PANL has been the topic of several recent research reports. Zacks Research lowered shares of Pangaea Logistics Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. B. Riley Financial reaffirmed a “buy” rating on shares of Pangaea Logistics Solutions in a report on Wednesday, January 28th. Wall Street Zen upgraded Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a research note on Monday, December 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Pangaea Logistics Solutions in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $9.00.

Pangaea Logistics Solutions Trading Up 3.0%

The business has a 50-day simple moving average of $7.61 and a 200-day simple moving average of $6.27. The company has a market cap of $604.22 million, a PE ratio of 31.00 and a beta of 0.79. The company has a quick ratio of 1.35, a current ratio of 1.62 and a debt-to-equity ratio of 0.72.

Pangaea Logistics Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a $0.05 dividend. 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 2.2%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is currently 66.67%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

A number of institutional investors and hedge funds have recently modified their holdings of PANL. LOM Asset Management Ltd acquired a new stake in Pangaea Logistics Solutions during the 4th quarter worth $34,000. BNP Paribas Financial Markets grew its holdings 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 last quarter. Kemnay Advisory Services Inc. acquired a new position in Pangaea Logistics Solutions in the 4th quarter valued at about $53,000. Tower Research Capital LLC TRC raised its stake in 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 valued at $43,000 after acquiring an additional 4,825 shares during the last quarter. Finally, Algert Global LLC purchased a new stake in Pangaea Logistics Solutions during the 3rd quarter valued at approximately $53,000. Institutional investors and hedge funds own 60.23% of the company’s stock.

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.