Pangaea Logistics Solutions (NASDAQ:PANL) Trading Down 5.2% – Time to Sell?

Shares of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) were down 5.2% during trading on Wednesday . The stock traded as low as $8.01 and last traded at $7.9530. Approximately 44,045 shares were traded during mid-day trading, a decline of 92% from the average session volume of 583,760 shares. The stock had previously closed at $8.39.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Pangaea Logistics Solutions in a report on Monday. Wall Street Zen upgraded shares of Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Pangaea Logistics Solutions Stock Performance

The company has a current ratio of 1.38, a quick ratio of 1.12 and a debt-to-equity ratio of 0.55. The firm has a market cap of $518.88 million, a price-to-earnings ratio of 10.51 and a beta of 0.79. The stock has a fifty day moving average price of $7.32 and a 200 day moving average price of $7.67.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings data on Monday, August 10th. The shipping company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Pangaea Logistics Solutions had a return on equity of 9.42% and a net margin of 6.70%.The business had revenue of $187.12 million for the quarter, compared to the consensus estimate of $192.76 million. As a group, analysts predict that Pangaea Logistics Solutions Ltd. will post 0.81 earnings per share for the current year.

Pangaea Logistics Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 5.0%. This is a boost from Pangaea Logistics Solutions’s previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, September 1st. Pangaea Logistics Solutions’s dividend payout ratio is 53.33%.

Institutional Trading of Pangaea Logistics Solutions

A number of institutional investors and hedge funds have recently modified their holdings of PANL. AQR Capital Management LLC acquired a new position in Pangaea Logistics Solutions in the 1st quarter valued at $195,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Pangaea Logistics Solutions by 18.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,342 shares of the shipping company’s stock worth $102,000 after acquiring an additional 3,344 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Pangaea Logistics Solutions by 6.6% during the first quarter. Goldman Sachs Group Inc. now owns 233,537 shares of the shipping company’s stock valued at $1,112,000 after acquiring an additional 14,357 shares during the period. Empowered Funds LLC boosted its holdings in Pangaea Logistics Solutions by 7.3% during the first quarter. Empowered Funds LLC now owns 381,919 shares of the shipping company’s stock valued at $1,818,000 after acquiring an additional 25,851 shares during the period. Finally, Creative Planning grew its position in shares of Pangaea Logistics Solutions by 94.2% in the second quarter. Creative Planning now owns 23,094 shares of the shipping company’s stock valued at $109,000 after purchasing an additional 11,204 shares during the last quarter. 60.23% of the stock is currently owned by institutional investors and hedge funds.

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.