Pangaea Logistics Solutions (NASDAQ:PANL) Cut to “Hold” at StockNews.com

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

Pangaea Logistics Solutions Trading Down 1.7 %

NASDAQ PANL opened at $6.30 on Friday. The firm has a market cap of $295.48 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. The stock’s 50-day moving average is $6.58 and its 200-day moving average is $7.08. Pangaea Logistics Solutions has a one year low of $6.09 and a one year high of $9.52.

Pangaea Logistics Solutions Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings 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.