Pangaea Logistics Solutions (NASDAQ:PANL) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a buy rating to a hold rating in a report released on Friday.

Pangaea Logistics Solutions Price Performance

NASDAQ:PANL traded down $0.11 during trading hours on Friday, hitting $6.30. The company’s stock had a trading volume of 127,643 shares, compared to its average volume of 211,225. The stock has a fifty day simple moving average of $6.58 and a 200-day simple moving average of $7.08. The company has a market capitalization of $295.47 million, a P/E ratio of 13.40 and a beta of 0.87. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.82. Pangaea Logistics Solutions has a twelve month low of $6.09 and a twelve month high of $9.52.

Pangaea Logistics Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.10 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 6.35%. Pangaea Logistics Solutions’s dividend payout ratio is presently 85.11%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Several large investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Pangaea Logistics Solutions during the second quarter worth about $58,000. Lazard Asset Management LLC bought a new position in shares of Pangaea Logistics Solutions during the first quarter worth about $61,000. Mackenzie Financial Corp bought a new position in shares of Pangaea Logistics Solutions during the second quarter worth about $110,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Pangaea Logistics Solutions during the third quarter worth about $113,000. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Pangaea Logistics Solutions during the first quarter worth about $114,000. 60.23% of the stock is currently 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.