Pangaea Logistics Solutions (NASDAQ:PANL) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a hold rating to a sell rating in a report issued on Friday morning.

Pangaea Logistics Solutions Stock Performance

Shares of PANL stock opened at $4.83 on Friday. Pangaea Logistics Solutions has a 12-month low of $3.93 and a 12-month high of $8.00. The firm has a market capitalization of $316.94 million, a price-to-earnings ratio of 14.21 and a beta of 0.69. The business has a 50 day simple moving average of $4.48 and a 200 day simple moving average of $4.87. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.61 and a quick ratio of 1.28.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings data on Monday, May 12th. The shipping company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.12. Pangaea Logistics Solutions had a return on equity of 4.97% and a net margin of 2.75%. The business had revenue of $122.80 million during the quarter, compared to analyst estimates of $130.37 million. During the same period in the prior year, the company posted $0.14 EPS. On average, equities research analysts anticipate that Pangaea Logistics Solutions will post 0.43 EPS for the current year.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date was Monday, June 2nd. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is 58.82%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PANL. Tower Research Capital LLC TRC grew its holdings in Pangaea Logistics Solutions by 469.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the shipping company’s stock worth $48,000 after buying an additional 7,412 shares in the last quarter. EP Wealth Advisors LLC bought a new position in Pangaea Logistics Solutions during the 4th quarter valued at $54,000. Commonwealth Equity Services LLC bought a new position in Pangaea Logistics Solutions during the 4th quarter valued at $55,000. Virtu Financial LLC bought a new position in Pangaea Logistics Solutions during the 4th quarter valued at $59,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in Pangaea Logistics Solutions during the 4th quarter valued at $59,000. 60.23% of the stock is 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.