Pangaea Logistics Solutions (NASDAQ:PANL) Upgraded to Buy by Alliance Global Partners

Alliance Global Partners upgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL - Free Report) from a neutral rating to a buy rating in a report released on Monday morning, Marketbeat Ratings reports. The brokerage currently has $10.25 target price on the shipping company's stock.

Separately, StockNews.com upgraded Pangaea Logistics Solutions from a hold rating to a buy rating in a research report on Friday.

Pangaea Logistics Solutions Trading Up 3.2 %

Pangaea Logistics Solutions stock traded up $0.24 during trading hours on Monday, reaching $7.79. The stock had a trading volume of 387,573 shares, compared to its average volume of 299,661. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.97 and a quick ratio of 1.75. The stock has a market cap of $363.96 million, a PE ratio of 10.25 and a beta of 0.81. Pangaea Logistics Solutions has a 52 week low of $5.28 and a 52 week high of $9.52. The company has a fifty day simple moving average of $7.17 and a 200-day simple moving average of $7.56.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last posted its earnings results on Thursday, May 9th. The shipping company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. Pangaea Logistics Solutions had a return on equity of 8.86% and a net margin of 7.04%. The firm had revenue of $104.75 million for the quarter, compared to analysts' expectations of $117.47 million. During the same period in the previous year, the firm earned $0.11 earnings per share. Analysts forecast that Pangaea Logistics Solutions will post 0.87 EPS for the current fiscal year.

Pangaea Logistics Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 5.13%. The ex-dividend date is Thursday, May 30th. Pangaea Logistics Solutions's dividend payout ratio is currently 52.63%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

A number of institutional investors and hedge funds have recently modified their holdings of PANL. SG Americas Securities LLC grew its stake in shares of Pangaea Logistics Solutions by 3.0% during the 1st quarter. SG Americas Securities LLC now owns 58,004 shares of the shipping company's stock valued at $404,000 after purchasing an additional 1,672 shares during the period. WealthTrust Axiom LLC grew its position in Pangaea Logistics Solutions by 8.7% during the fourth quarter. WealthTrust Axiom LLC now owns 26,805 shares of the shipping company's stock valued at $221,000 after buying an additional 2,149 shares during the period. Brandywine Global Investment Management LLC increased its holdings in Pangaea Logistics Solutions by 11.1% during the third quarter. Brandywine Global Investment Management LLC now owns 21,878 shares of the shipping company's stock valued at $129,000 after buying an additional 2,180 shares during the last quarter. Quarry LP bought a new position in Pangaea Logistics Solutions in the fourth quarter worth approximately $35,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Pangaea Logistics Solutions by 245.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,142 shares of the shipping company's stock worth $59,000 after acquiring an additional 5,077 shares during the last quarter. 60.23% of the stock is currently owned by hedge funds and other 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.