Pangaea Logistics Solutions (NASDAQ:PANL) Downgraded to Sell Rating by StockNews.com

StockNews.com downgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a hold rating to a sell rating in a report published on Monday.

Pangaea Logistics Solutions Stock Down 2.0 %

Shares of PANL stock opened at $5.50 on Monday. The stock’s 50 day simple moving average is $5.28 and its 200 day simple moving average is $5.82. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.05. Pangaea Logistics Solutions has a twelve month low of $4.69 and a twelve month high of $8.32. The company has a market capitalization of $357.29 million, a price-to-earnings ratio of 11.70 and a beta of 0.84.

Pangaea Logistics Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.27%. The ex-dividend date was Friday, February 28th. Pangaea Logistics Solutions’s payout ratio is 64.52%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PANL. Tower Research Capital LLC TRC raised its stake in shares of Pangaea Logistics Solutions by 469.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the shipping company’s stock valued at $48,000 after acquiring an additional 7,412 shares in the last quarter. EP Wealth Advisors LLC bought a new position in shares of Pangaea Logistics Solutions in the 4th quarter valued at approximately $54,000. Commonwealth Equity Services LLC bought a new position in Pangaea Logistics Solutions in the 4th quarter worth approximately $55,000. Virtu Financial LLC bought a new position in Pangaea Logistics Solutions in the 4th quarter worth approximately $59,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in Pangaea Logistics Solutions in the 4th quarter worth approximately $59,000. 60.23% of the stock is owned by institutional investors.

About Pangaea Logistics Solutions

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.