Pangaea Logistics Solutions (NASDAQ:PANL) Hits New 12-Month High – Time to Buy?

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL)’s share price reached a new 52-week high during mid-day trading on Friday. The company traded as high as $10.15 and last traded at $9.49, with a volume of 3,091 shares trading hands. The stock had previously closed at $9.46.

Analyst Ratings Changes

Several research analysts have commented on the company. Weiss Ratings raised Pangaea Logistics Solutions from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday. Zacks Research upgraded shares of Pangaea Logistics Solutions from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 9th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to data from MarketBeat.com, Pangaea Logistics Solutions has an average rating of “Buy”.

Pangaea Logistics Solutions Trading Down 1.9%

The business’s 50 day simple moving average is $8.19 and its two-hundred day simple moving average is $7.84. The stock has a market cap of $607.60 million, a P/E ratio of 8.07 and a beta of 0.91. The company has a quick ratio of 1.12, a current ratio of 1.52 and a debt-to-equity ratio of 0.50.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its quarterly earnings results on Thursday, November 5th. The shipping company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.21. Pangaea Logistics Solutions had a return on equity of 13.64% and a net margin of 9.68%. The company had revenue of $219.06 million during the quarter, compared to analysts’ expectations of $204.90 million. As a group, analysts expect that Pangaea Logistics Solutions Ltd. will post 1.22 EPS for the current year.

Pangaea Logistics Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Tuesday, December 1st. Pangaea Logistics Solutions’s dividend payout ratio is presently 34.78%.

Institutional Trading of Pangaea Logistics Solutions

A number of hedge funds have recently made changes to their positions in PANL. Dimensional Fund Advisors LP grew its position in shares of Pangaea Logistics Solutions by 13.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,884,470 shares of the shipping company’s stock valued at $20,421,000 after buying an additional 351,385 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Pangaea Logistics Solutions by 33.0% during the first quarter. Renaissance Technologies LLC now owns 746,100 shares of the shipping company’s stock worth $5,282,000 after acquiring an additional 185,100 shares during the last quarter. Sei Investments Co. bought a new position in shares of Pangaea Logistics Solutions during the first quarter worth about $933,000. Ritholtz Wealth Management raised its position in shares of Pangaea Logistics Solutions by 143.8% during the third quarter. Ritholtz Wealth Management now owns 197,773 shares of the shipping company’s stock worth $1,586,000 after acquiring an additional 116,658 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Pangaea Logistics Solutions by 66.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 208,875 shares of the shipping company’s stock worth $1,479,000 after acquiring an additional 83,380 shares during the period. 60.23% of the stock is owned by institutional investors and hedge funds.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions Ltd. is a global provider of dry-bulk shipping and logistics services. The company transports commodities such as minerals, grain and other bulk cargoes, coordinating ocean carriage with related logistics services. Its operations include vessel ownership and chartering, cargo planning, port and terminal services, stevedoring, and cargo loading and unloading. Pangaea also operates specialized vessels, including ice-class ships designed to serve ports and routes with challenging ice conditions.