Pangaea Logistics Solutions (NASDAQ:PANL) Raised to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Pangaea Logistics Solutions to “strong buy” from “hold.” Weiss Ratings also raised its assessment, and MarketBeat reports an overall consensus rating of “Buy.”
• The company beat quarterly estimates, reporting $0.52 earnings per share versus $0.31 expected and revenue of $219.06 million versus $204.90 million expected.
• Pangaea shares rose 5.2% and opened at $8.54 on Monday. Institutional investors own 60.23% of the stock, with several funds recently increasing their holdings.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday, Zacks reports.

Separately, Weiss Ratings upgraded shares of Pangaea Logistics Solutions from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat.com, Pangaea Logistics Solutions has a consensus rating of "Buy".

Pangaea Logistics Solutions Stock Up 5.2%

Shares of Pangaea Logistics Solutions stock opened at $8.54 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.52 and a quick ratio of 1.12. Pangaea Logistics Solutions has a 1 year low of $6.21 and a 1 year high of $9.39. The firm's 50-day moving average is $8.13 and its two-hundred day moving average is $7.83. The stock has a market cap of $559.15 million, a price-to-earnings ratio of 7.43 and a beta of 0.91.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last posted its earnings results on Thursday, November 5th. The shipping company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.21. Pangaea Logistics Solutions had a net margin of 9.68% and a return on equity of 13.64%. The business had revenue of $219.06 million for the quarter, compared to the consensus estimate of $204.90 million. As a group, research analysts expect that Pangaea Logistics Solutions will post 1.22 earnings per share for the current fiscal year.

Institutional Trading of Pangaea Logistics Solutions

Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Pangaea Logistics Solutions by 13.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,884,470 shares of the shipping company's stock valued at $20,421,000 after buying an additional 351,385 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Pangaea Logistics Solutions by 33.0% during the 1st quarter. Renaissance Technologies LLC now owns 746,100 shares of the shipping company's stock worth $5,282,000 after acquiring an additional 185,100 shares in the last quarter. Sei Investments Co. bought a new position in shares of Pangaea Logistics Solutions during the 1st quarter worth approximately $933,000. Ritholtz Wealth Management raised its stake in shares of Pangaea Logistics Solutions by 143.8% during the 3rd quarter. Ritholtz Wealth Management now owns 197,773 shares of the shipping company's stock worth $1,586,000 after acquiring an additional 116,658 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Pangaea Logistics Solutions by 66.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 208,875 shares of the shipping company's stock valued at $1,479,000 after acquiring an additional 83,380 shares during the last quarter. 60.23% of the stock is owned by hedge funds and other institutional investors.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions Ltd. is a global provider of dry-bulk shipping and logistics services. The company transports commodities such as minerals, grain and other bulk cargoes, coordinating ocean carriage with related logistics services. Its operations include vessel ownership and chartering, cargo planning, port and terminal services, stevedoring, and cargo loading and unloading. Pangaea also operates specialized vessels, including ice-class ships designed to serve ports and routes with challenging ice conditions.

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