Pangaea Logistics Solutions (NASDAQ:PANL) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Pangaea Logistics Solutions (NASDAQ:PANL) from a hold rating to a buy rating in a research note published on Thursday morning.

Pangaea Logistics Solutions Trading Up 0.2 %

NASDAQ PANL opened at $6.65 on Thursday. Pangaea Logistics Solutions has a 12 month low of $6.00 and a 12 month high of $9.52. The stock has a market capitalization of $311.89 million, a P/E ratio of 8.53 and a beta of 0.87. The firm’s 50-day moving average is $6.58 and its two-hundred day moving average is $7.10. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.16 and a quick ratio of 1.82.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its earnings results on Thursday, August 8th. The shipping company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.05). Pangaea Logistics Solutions had a net margin of 7.02% and a return on equity of 8.76%. The company had revenue of $131.50 million during the quarter, compared to analyst estimates of $98.09 million. During the same quarter last year, the business posted $0.10 EPS. On average, sell-side analysts anticipate that Pangaea Logistics Solutions will post 0.76 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC boosted its position in Pangaea Logistics Solutions by 131.7% in the 2nd quarter. AQR Capital Management LLC now owns 265,177 shares of the shipping company’s stock valued at $2,076,000 after buying an additional 150,713 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Pangaea Logistics Solutions by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,853,611 shares of the shipping company’s stock valued at $14,514,000 after purchasing an additional 112,298 shares during the period. Janney Montgomery Scott LLC acquired a new position in Pangaea Logistics Solutions during the 3rd quarter worth $761,000. American Century Companies Inc. grew its position in shares of Pangaea Logistics Solutions by 14.1% during the second quarter. American Century Companies Inc. now owns 725,829 shares of the shipping company’s stock worth $5,683,000 after buying an additional 89,570 shares in the last quarter. Finally, Kingsview Wealth Management LLC acquired a new position in Pangaea Logistics Solutions during the 1st quarter worth approximately $425,000. Institutional investors and hedge funds own 60.23% of the company’s stock.

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.