StockNews.com Upgrades Pangaea Logistics Solutions (NASDAQ:PANL) to Hold

StockNews.com upgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a sell rating to a hold rating in a research note published on Tuesday.

Pangaea Logistics Solutions Stock Down 4.6 %

Pangaea Logistics Solutions stock opened at $5.00 on Tuesday. The firm has a market cap of $328.14 million, a price-to-earnings ratio of 10.64 and a beta of 0.84. Pangaea Logistics Solutions has a 52-week low of $4.69 and a 52-week high of $8.32. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.05. The firm has a 50 day moving average price of $5.26 and a two-hundred day moving average price of $5.78.

Pangaea Logistics Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.10 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.40 annualized dividend and a yield of 8.00%. Pangaea Logistics Solutions’s payout ratio is 64.52%.

Institutional Trading of Pangaea Logistics Solutions

A number of large investors have recently bought and sold shares of PANL. Victory Capital Management Inc. lifted its stake in shares of Pangaea Logistics Solutions by 16.7% in the 3rd quarter. Victory Capital Management Inc. now owns 142,917 shares of the shipping company’s stock valued at $1,033,000 after purchasing an additional 20,498 shares during the period. State Street Corp increased its holdings in Pangaea Logistics Solutions by 0.8% in the third quarter. State Street Corp now owns 577,110 shares of the shipping company’s stock worth $4,173,000 after purchasing an additional 4,564 shares in the last quarter. Jane Street Group LLC lifted its stake in Pangaea Logistics Solutions by 7.9% in the third quarter. Jane Street Group LLC now owns 61,728 shares of the shipping company’s stock valued at $446,000 after buying an additional 4,499 shares during the period. Barclays PLC boosted its holdings in shares of Pangaea Logistics Solutions by 271.4% during the 3rd quarter. Barclays PLC now owns 46,899 shares of the shipping company’s stock worth $339,000 after buying an additional 34,273 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Pangaea Logistics Solutions by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 837,827 shares of the shipping company’s stock worth $6,059,000 after buying an additional 60,841 shares in the last quarter. 60.23% of the stock is currently owned by institutional investors and hedge funds.

Pangaea Logistics Solutions Company Profile

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.