Pangaea Logistics Solutions (NASDAQ:PANL) Sets New 1-Year High - Here's What Happened

Key Points

• Pangaea Logistics Solutions hit a 52-week high, trading as high as $10.15 before last changing hands at $9.49. Analysts’ overall rating is “Buy,” with Zacks Research upgrading the stock to “Strong Buy.”
• The company reported quarterly EPS of $0.52, beating the $0.31 consensus estimate, while revenue of $219.06 million also topped expectations.
• Pangaea declared a quarterly dividend of $0.10 per share, equivalent to an annualized $0.40 and a 4.2% yield.

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL - Get Free Report) hit a new 52-week high during trading on Friday. The company traded as high as $10.15 and last traded at $9.49, with a volume of 3,091 shares changing hands. The stock had previously closed at $9.46.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PANL shares. Zacks Research raised Pangaea Logistics Solutions from a "hold" rating to a "strong-buy" rating in a research note on Monday. Weiss Ratings raised Pangaea Logistics Solutions from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy".

Pangaea Logistics Solutions Stock Down 0.1%

The business's 50 day moving average is $8.17 and its 200-day moving average is $7.84. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.52. The firm has a market capitalization of $618.69 million, a price-to-earnings ratio of 8.18 and a beta of 0.91.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last announced its earnings results on Thursday, November 5th. The shipping company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.31 by $0.21. The firm had revenue of $219.06 million for the quarter, compared to the consensus estimate of $204.90 million. Pangaea Logistics Solutions had a net margin of 9.68% and a return on equity of 13.64%. Equities analysts anticipate that Pangaea Logistics Solutions Ltd. will post 1.22 EPS for the current fiscal year.

Pangaea Logistics Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, December 1st. Pangaea Logistics Solutions's dividend payout ratio (DPR) is currently 34.78%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Several large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in 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 during the last quarter. Renaissance Technologies LLC grew its stake in shares of Pangaea Logistics Solutions by 33.0% in the first 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 during the last quarter. Empowered Funds LLC grew its stake in shares of Pangaea Logistics Solutions by 9.8% in the first quarter. Empowered Funds LLC now owns 413,152 shares of the shipping company's stock worth $2,925,000 after acquiring an additional 36,990 shares during the last quarter. Ritholtz Wealth Management raised its stake in Pangaea Logistics Solutions by 143.8% during the 3rd quarter. Ritholtz Wealth Management now owns 197,773 shares of the shipping company's stock valued at $1,586,000 after purchasing an additional 116,658 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Pangaea Logistics Solutions by 66.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 208,875 shares of the shipping company's stock valued at $1,479,000 after purchasing an additional 83,380 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. 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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