Pangaea Logistics Solutions (NASDAQ:PANL) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a buy rating to a strong-buy rating in a research note released on Saturday morning.

A number of other analysts also recently issued reports on the stock. B. Riley Financial restated a “buy” rating on shares of Pangaea Logistics Solutions in a report on Wednesday, January 28th. Weiss Ratings upgraded shares of Pangaea Logistics Solutions from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Pangaea Logistics Solutions Stock Down 1.0%

Shares of NASDAQ PANL opened at $8.19 on Friday. The company has a 50 day simple moving average of $7.49 and a 200-day simple moving average of $7.36. The company has a market capitalization of $535.75 million, a P/E ratio of 14.89 and a beta of 0.81. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.46. Pangaea Logistics Solutions has a 1 year low of $4.23 and a 1 year high of $9.39.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its quarterly earnings results on Monday, May 11th. The shipping company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. The business had revenue of $170.58 million during the quarter, compared to the consensus estimate of $165.79 million. Pangaea Logistics Solutions had a net margin of 5.10% and a return on equity of 5.71%. On average, equities research analysts predict that Pangaea Logistics Solutions will post 0.71 earnings per share for the current year.

Pangaea Logistics Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.4%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 36.36%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in shares of Pangaea Logistics Solutions by 13.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,884,470 shares of the shipping company’s stock worth $20,421,000 after purchasing an additional 351,385 shares during the period. Cable Car Capital LP boosted its position in shares of Pangaea Logistics Solutions by 2.1% during the 2nd quarter. Cable Car Capital LP now owns 985,623 shares of the shipping company’s stock worth $4,632,000 after purchasing an additional 20,000 shares during the period. Renaissance Technologies LLC boosted its position in shares of Pangaea Logistics Solutions by 33.0% during the 1st quarter. Renaissance Technologies LLC now owns 746,100 shares of the shipping company’s stock worth $5,282,000 after purchasing an additional 185,100 shares during the period. Bridgeway Capital Management LLC boosted its position in shares of Pangaea Logistics Solutions by 4.3% during the 2nd quarter. Bridgeway Capital Management LLC now owns 707,479 shares of the shipping company’s stock worth $3,325,000 after purchasing an additional 29,260 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Pangaea Logistics Solutions by 1,846.9% during the 4th quarter. Millennium Management LLC now owns 438,987 shares of the shipping company’s stock worth $3,020,000 after purchasing an additional 416,439 shares during the period. Hedge funds and other institutional investors own 60.23% of the company’s stock.

Pangaea Logistics Solutions Company Profile

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.