Pangaea Logistics Solutions (NASDAQ:PANL) Given New $9.00 Price Target at B. Riley

Pangaea Logistics Solutions (NASDAQ:PANL) had its target price cut by B. Riley from $11.00 to $9.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the shipping company’s stock.

Separately, Wall Street Zen upgraded Pangaea Logistics Solutions from a “sell” rating to a “hold” rating in a research note on Friday, July 18th.

Pangaea Logistics Solutions Trading Up 2.0%

PANL opened at $5.13 on Monday. The firm has a market cap of $334.68 million, a price-to-earnings ratio of 23.32 and a beta of 0.77. The company has a current ratio of 1.46, a quick ratio of 1.28 and a debt-to-equity ratio of 0.72. Pangaea Logistics Solutions has a 12 month low of $3.93 and a 12 month high of $7.49. The stock has a fifty day moving average price of $4.92 and a 200-day moving average price of $4.80.

Pangaea Logistics Solutions (NASDAQ:PANL) last released its quarterly earnings results on Thursday, August 7th. The shipping company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. The firm had revenue of $156.69 million during the quarter, compared to analyst estimates of $129.24 million. Pangaea Logistics Solutions had a return on equity of 3.38% and a net margin of 1.52%. As a group, equities research analysts anticipate that Pangaea Logistics Solutions will post 0.43 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 3.9%. The ex-dividend date is Tuesday, September 2nd. Pangaea Logistics Solutions’s payout ratio is 90.91%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PANL. Tower Research Capital LLC TRC grew its stake in Pangaea Logistics Solutions by 469.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the shipping company’s stock valued at $48,000 after purchasing an additional 7,412 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in Pangaea Logistics Solutions during the 4th quarter valued at about $54,000. Jacobs Levy Equity Management Inc. purchased a new stake in Pangaea Logistics Solutions during the 4th quarter valued at about $59,000. Oppenheimer & Co. Inc. purchased a new stake in Pangaea Logistics Solutions during the 1st quarter valued at about $59,000. Finally, J.W. Cole Advisors Inc. purchased a new stake in shares of Pangaea Logistics Solutions in the second quarter worth about $65,000. 60.23% of the stock is currently owned by hedge funds and other 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.