Pangaea Logistics Solutions (NASDAQ:PANL) Stock Rating Upgraded by StockNews.com

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

Pangaea Logistics Solutions Trading Down 0.2 %

Shares of PANL opened at $5.03 on Tuesday. The firm’s 50-day moving average is $5.23 and its two-hundred day moving average is $5.77. The firm has a market capitalization of $330.11 million, a P/E ratio of 10.70 and a beta of 0.84. The company has a current ratio of 2.05, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72. Pangaea Logistics Solutions has a twelve month low of $4.69 and a twelve month high of $8.32.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.10 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 7.95%. Pangaea Logistics Solutions’s dividend payout ratio is presently 64.52%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its stake in 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 buying an additional 20,498 shares in the last quarter. State Street Corp boosted its stake in shares of Pangaea Logistics Solutions by 0.8% during the 3rd 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 during the last quarter. Jane Street Group LLC raised its position in shares of 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 last quarter. Barclays PLC lifted its stake in shares of Pangaea Logistics Solutions by 271.4% during the third quarter. Barclays PLC now owns 46,899 shares of the shipping company’s stock valued at $339,000 after buying an additional 34,273 shares during the period. Finally, Geode Capital Management LLC grew its stake in Pangaea Logistics Solutions by 7.8% in the 3rd quarter. Geode Capital Management LLC now owns 837,827 shares of the shipping company’s stock worth $6,059,000 after acquiring an additional 60,841 shares during the period. Institutional investors and hedge funds own 60.23% of the company’s stock.

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.