Pangaea Logistics Solutions (NASDAQ:PANL) Rating Lowered to Neutral at Alliance Global Partners

Pangaea Logistics Solutions (NASDAQ:PANLGet Free Report) was downgraded by analysts at Alliance Global Partners from a “buy” rating to a “neutral” rating in a research note issued on Monday, Marketbeat Ratings reports. They currently have a $8.75 price target on the shipping company’s stock. Alliance Global Partners’ price target suggests a potential upside of 2.70% from the company’s previous close.

Pangaea Logistics Solutions Stock Performance

Shares of PANL opened at $8.52 on Monday. The stock has a market cap of $395.90 million, a P/E ratio of 9.47 and a beta of 0.92. The company has a quick ratio of 1.49, a current ratio of 1.72 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average price is $8.09 and its 200-day moving average price is $6.84. Pangaea Logistics Solutions has a 52 week low of $5.06 and a 52 week high of $9.52.

Pangaea Logistics Solutions (NASDAQ:PANLGet Free Report) last issued its quarterly earnings data on Wednesday, November 8th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.20. The firm had revenue of $135.62 million during the quarter, compared to the consensus estimate of $123.65 million. Pangaea Logistics Solutions had a net margin of 8.22% and a return on equity of 10.43%. Equities research analysts anticipate that Pangaea Logistics Solutions will post 0.97 earnings per share for the current fiscal year.

Insider Activity at Pangaea Logistics Solutions

In other news, Director David Sgro sold 10,714 shares of Pangaea Logistics Solutions stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $7.02, for a total transaction of $75,212.28. Following the completion of the sale, the director now owns 40,569 shares of the company’s stock, valued at $284,794.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Pangaea Logistics Solutions news, Director David Sgro sold 10,714 shares of Pangaea Logistics Solutions stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $7.02, for a total value of $75,212.28. Following the transaction, the director now directly owns 40,569 shares of the company’s stock, valued at $284,794.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric Rosenfeld sold 15,783 shares of Pangaea Logistics Solutions stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $7.35, for a total transaction of $116,005.05. Following the completion of the transaction, the director now directly owns 205,131 shares in the company, valued at $1,507,712.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,942 shares of company stock valued at $338,146. Insiders own 24.16% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PANL. Royal Bank of Canada acquired a new stake in Pangaea Logistics Solutions during the 2nd quarter worth approximately $26,000. Bank of America Corp DE grew its position in shares of Pangaea Logistics Solutions by 1,977.9% in the 1st quarter. Bank of America Corp DE now owns 4,800 shares of the shipping company’s stock valued at $27,000 after buying an additional 4,569 shares during the last quarter. UBS Group AG purchased a new position in shares of Pangaea Logistics Solutions in the 1st quarter valued at $41,000. Virtu Financial LLC purchased a new position in shares of Pangaea Logistics Solutions in the 2nd quarter valued at $69,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of Pangaea Logistics Solutions in the 2nd quarter valued at $70,000. Institutional investors and hedge funds own 51.31% of the company’s stock.

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. The company 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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