Pangaea Logistics Solutions (NASDAQ:PANL) Lifted to “Buy” at Alliance Global Partners

Alliance Global Partners upgraded shares of Pangaea Logistics Solutions (NASDAQ:PANLFree Report) from a neutral rating to a buy rating in a report published on Monday, Marketbeat Ratings reports. Alliance Global Partners currently has $10.25 target price on the shipping company’s stock.

Separately, StockNews.com upgraded shares of Pangaea Logistics Solutions from a hold rating to a buy rating in a research report on Friday.

View Our Latest Analysis on PANL

Pangaea Logistics Solutions Price Performance

Shares of Pangaea Logistics Solutions stock opened at $7.79 on Monday. The stock has a market capitalization of $364.88 million, a P/E ratio of 10.25 and a beta of 0.81. The business has a 50 day simple moving average of $7.17 and a two-hundred day simple moving average of $7.56. Pangaea Logistics Solutions has a 12 month low of $5.28 and a 12 month high of $9.52. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.97 and a quick ratio of 1.75.

Pangaea Logistics Solutions (NASDAQ:PANLGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The shipping company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.09 by $0.05. Pangaea Logistics Solutions had a return on equity of 8.86% and a net margin of 7.04%. The firm had revenue of $104.75 million during the quarter, compared to the consensus estimate of $117.47 million. During the same period in the prior year, the company earned $0.11 EPS. As a group, analysts predict that Pangaea Logistics Solutions will post 0.87 EPS for the current fiscal year.

Pangaea Logistics Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date of this dividend is Thursday, May 30th. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is currently 52.63%.

Institutional Trading of Pangaea Logistics Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new position in shares of Pangaea Logistics Solutions during the 4th quarter valued at about $35,000. Tower Research Capital LLC TRC raised its stake in Pangaea Logistics Solutions by 245.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,142 shares of the shipping company’s stock worth $59,000 after purchasing an additional 5,077 shares during the period. Quadrature Capital Ltd acquired a new position in Pangaea Logistics Solutions in the 3rd quarter valued at about $108,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Pangaea Logistics Solutions in the 1st quarter valued at approximately $114,000. Finally, Brandywine Global Investment Management LLC increased its holdings in shares of Pangaea Logistics Solutions by 11.1% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 21,878 shares of the shipping company’s stock worth $129,000 after buying an additional 2,180 shares during the last quarter. 60.23% of the stock is owned by institutional investors and hedge funds.

Pangaea Logistics Solutions Company Profile

(Get Free Report)

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.

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