StockNews.com Begins Coverage on Pangaea Logistics Solutions (NASDAQ:PANL)

StockNews.com began coverage on shares of Pangaea Logistics Solutions (NASDAQ:PANL – Get Rating) in a research note issued to investors on Thursday. The firm issued a buy rating on the shipping company’s stock.

Pangaea Logistics Solutions Trading Down 3.7 %

NASDAQ PANL opened at $5.53 on Thursday. The company has a 50-day moving average of $6.12 and a 200-day moving average of $5.34. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.41 and a quick ratio of 2.11. Pangaea Logistics Solutions has a 12 month low of $4.23 and a 12 month high of $7.12. The company has a market cap of $257.03 million, a P/E ratio of 3.12 and a beta of 0.73.

Pangaea Logistics Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, February 28th. This represents a $0.40 dividend on an annualized basis and a yield of 7.23%. Pangaea Logistics Solutions’s payout ratio is 22.60%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its holdings in Pangaea Logistics Solutions by 1,977.9% in the first quarter. Bank of America Corp DE now owns 4,800 shares of the shipping company’s stock valued at $27,000 after purchasing an additional 4,569 shares during the period. UBS Group AG grew its holdings in Pangaea Logistics Solutions by 67.6% in the second quarter. UBS Group AG now owns 7,466 shares of the shipping company’s stock valued at $38,000 after purchasing an additional 3,012 shares during the period. Sei Investments Co. purchased a new stake in Pangaea Logistics Solutions in the second quarter valued at approximately $58,000. Engineers Gate Manager LP purchased a new stake in Pangaea Logistics Solutions in the first quarter valued at approximately $66,000. Finally, Bank of New York Mellon Corp purchased a new stake in Pangaea Logistics Solutions in the first quarter valued at approximately $69,000. 45.35% of the stock is currently owned by hedge funds and other institutional investors.

About Pangaea Logistics Solutions

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Pangaea Logistics Solutions Ltd. engages in the provision of seaborne dry bulk logistics and transportation services to industrial customers worldwide. The firm services customers that require transportation of dry bulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.