Pangaea Logistics Solutions (NASDAQ:PANL) Cut to Sell at StockNews.com

StockNews.com cut shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a hold rating to a sell rating in a report released on Monday morning.

Pangaea Logistics Solutions Trading Down 2.0 %

Shares of NASDAQ PANL opened at $5.50 on Monday. Pangaea Logistics Solutions has a one year low of $4.69 and a one year high of $8.32. The firm has a market capitalization of $357.29 million, a PE ratio of 11.70 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. The business has a 50-day moving average price of $5.28 and a two-hundred day moving average price of $5.82.

Pangaea Logistics Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a yield of 7.27%. Pangaea Logistics Solutions’s payout ratio is presently 64.52%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its position in Pangaea Logistics Solutions by 7.8% during 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. Janney Montgomery Scott LLC acquired a new stake in shares of Pangaea Logistics Solutions during the 3rd quarter valued at about $761,000. Barclays PLC lifted its holdings in shares of Pangaea Logistics Solutions by 271.4% during the 3rd 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 last quarter. State Street Corp lifted its holdings 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 valued at $4,173,000 after buying an additional 4,564 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Pangaea Logistics Solutions by 5.1% during the 4th quarter. Empowered Funds LLC now owns 356,068 shares of the shipping company’s stock valued at $1,909,000 after buying an additional 17,389 shares during the last quarter. 60.23% of the stock is currently owned by institutional investors and hedge funds.

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.