Pangaea Logistics Solutions Ltd. (NASDAQ:PANL – Get Free Report) traded down 8.3% on Wednesday . The company traded as low as $7.96 and last traded at $7.9250. 369,468 shares were traded during mid-day trading, a decline of 42% from the average session volume of 633,004 shares. The stock had previously closed at $8.64.
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. Wall Street Zen cut Pangaea Logistics Solutions from a “strong-buy” rating to a “buy” rating in a report on Sunday, April 19th. B. Riley Financial restated a “buy” rating on shares of Pangaea Logistics Solutions in a report on Wednesday, January 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Pangaea Logistics Solutions in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Pangaea Logistics Solutions presently has a consensus rating of “Hold” and an average price target of $9.00.
Check Out Our Latest Report on PANL
Pangaea Logistics Solutions Stock Performance
Pangaea Logistics Solutions (NASDAQ:PANL – Get Free Report) last released its earnings results on Monday, May 11th. The shipping company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.05 by $0.06. The company had revenue of $170.58 million during the quarter, compared to analysts’ expectations of $165.79 million. Pangaea Logistics Solutions had a return on equity of 5.77% and a net margin of 5.10%. Equities analysts forecast that Pangaea Logistics Solutions Ltd. will post 0.27 EPS for the current year.
Pangaea Logistics Solutions Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Monday, June 1st. Pangaea Logistics Solutions’s payout ratio is currently 64.52%.
Institutional Trading of Pangaea Logistics Solutions
Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in Pangaea Logistics Solutions by 13.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,884,470 shares of the shipping company’s stock worth $20,421,000 after purchasing an additional 351,385 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Pangaea Logistics Solutions by 2.2% during the first quarter. Bank of New York Mellon Corp now owns 80,261 shares of the shipping company’s stock worth $568,000 after purchasing an additional 1,732 shares during the last quarter. Relyea Zuckerberg Hanson LLC lifted its stake in Pangaea Logistics Solutions by 61.3% during the first quarter. Relyea Zuckerberg Hanson LLC now owns 37,228 shares of the shipping company’s stock worth $264,000 after purchasing an additional 14,151 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in Pangaea Logistics Solutions during the first quarter worth $242,000. Finally, Ritholtz Wealth Management bought a new position in Pangaea Logistics Solutions during the first quarter worth $158,000. 60.23% of the stock is owned by institutional investors.
About Pangaea Logistics Solutions
Pangaea Logistics Solutions Ltd. is a global transportation and logistics company that provides ocean transportation and integrated logistics services. The company operates a fleet of drybulk vessels, including Handysize, Supramax and Ultramax carriers, to transport commodities such as coal, grain, minerals, ores and steel products. In parallel, Pangaea offers asset-light logistics solutions spanning freight forwarding, supply chain management and project cargo services, enabling end-to-end transport for bulk and breakbulk shipments.
Founded in 2012 as a spin-off from an established maritime shipping group, Pangaea Logistics Solutions went public on the Nasdaq in 2013 under the ticker PANL.
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