Pangaea Logistics Solutions (NASDAQ:PANL) Downgraded to Buy Rating by Wall Street Zen

Key Points

• Pangaea Logistics Solutions (PANL) was downgraded by Wall Street Zen from "strong-buy" to "buy"; analysts' coverage now includes one Buy and two Hold ratings, leaving a consensus rating of "Hold" with a $9.00 consensus price target.
• The company reported quarterly EPS of $0.16, missing the $0.18 estimate while revenue of $183.88 million beat expectations; the stock opened at $7.90, trades in a 12‑month range of $3.94–$9.39, has a market cap of $516 million and a PE of 25.48.
• Institutional ownership is 60.23%, and several funds (notably Dimensional Fund Advisors and Millennium Management) increased their PANL holdings in recent quarters.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Sunday.

A number of other research firms have also recently commented on PANL. Zacks Research cut Pangaea Logistics Solutions from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 6th. B. Riley Financial reaffirmed a "buy" rating on shares of Pangaea Logistics Solutions in a report on Wednesday, January 28th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Pangaea Logistics Solutions in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $9.00.

Pangaea Logistics Solutions Stock Up 1.8%

NASDAQ PANL opened at $7.90 on Friday. The stock's 50 day moving average is $7.93 and its 200 day moving average is $6.99. The company has a current ratio of 1.69, a quick ratio of 1.46 and a debt-to-equity ratio of 0.69. Pangaea Logistics Solutions has a 12 month low of $3.94 and a 12 month high of $9.39. The stock has a market cap of $516.03 million, a PE ratio of 25.48 and a beta of 0.89.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last posted its quarterly earnings results on Tuesday, March 10th. The shipping company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.02). Pangaea Logistics Solutions had a return on equity of 3.80% and a net margin of 3.06%.The business had revenue of $183.88 million during the quarter, compared to analysts' expectations of $181.75 million. Research analysts predict that Pangaea Logistics Solutions will post 0.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Several large investors have recently modified their holdings of PANL. Dimensional Fund Advisors LP grew its position in Pangaea Logistics Solutions by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,533,085 shares of the shipping company's stock valued at $17,428,000 after acquiring an additional 100,331 shares during the last quarter. Cable Car Capital LP grew its position in Pangaea Logistics Solutions by 2.1% in the 2nd quarter. Cable Car Capital LP now owns 985,623 shares of the shipping company's stock valued at $4,632,000 after acquiring an additional 20,000 shares during the last quarter. Bridgeway Capital Management LLC grew its position in Pangaea Logistics Solutions by 4.3% in the 2nd quarter. Bridgeway Capital Management LLC now owns 707,479 shares of the shipping company's stock valued at $3,325,000 after acquiring an additional 29,260 shares during the last quarter. Millennium Management LLC grew its position in Pangaea Logistics Solutions by 1,846.9% in the 4th quarter. Millennium Management LLC now owns 438,987 shares of the shipping company's stock valued at $3,020,000 after acquiring an additional 416,439 shares during the last quarter. Finally, Empowered Funds LLC grew its position in Pangaea Logistics Solutions by 7.3% in the 1st quarter. Empowered Funds LLC now owns 381,919 shares of the shipping company's stock valued at $1,818,000 after acquiring an additional 25,851 shares during the last quarter. Institutional investors own 60.23% of the company's stock.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions Ltd. is a global transportation and logistics company that provides ocean transportation and integrated logistics services. The company operates a fleet of drybulk vessels, including Handysize, Supramax and Ultramax carriers, to transport commodities such as coal, grain, minerals, ores and steel products. In parallel, Pangaea offers asset-light logistics solutions spanning freight forwarding, supply chain management and project cargo services, enabling end-to-end transport for bulk and breakbulk shipments.

Founded in 2012 as a spin-off from an established maritime shipping group, Pangaea Logistics Solutions went public on the Nasdaq in 2013 under the ticker PANL.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.