Pangaea Logistics Solutions (NASDAQ:PANL) Downgraded by StockNews.com to Hold

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Wednesday.

Pangaea Logistics Solutions Price Performance

PANL stock traded down $0.16 on Wednesday, reaching $6.70. 138,158 shares of the company's stock were exchanged, compared to its average volume of 217,617. The stock has a fifty day moving average of $6.67 and a 200-day moving average of $7.16. Pangaea Logistics Solutions has a twelve month low of $5.74 and a twelve month high of $9.52. The firm has a market cap of $314.24 million, a PE ratio of 8.82 and a beta of 0.86. The company has a quick ratio of 1.82, a current ratio of 2.16 and a debt-to-equity ratio of 0.57.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) 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). The firm had revenue of $131.50 million during the quarter, compared to analyst estimates of $98.09 million. Pangaea Logistics Solutions had a net margin of 7.02% and a return on equity of 8.76%. During the same period last year, the company posted $0.10 EPS. As a group, equities analysts predict that Pangaea Logistics Solutions will post 0.76 EPS for the current fiscal year.

Institutional Trading of Pangaea Logistics Solutions

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Cable Car Capital LLC purchased a new position in Pangaea Logistics Solutions during the fourth quarter worth about $7,299,000. AQR Capital Management LLC lifted its position in Pangaea Logistics Solutions by 131.7% during the second quarter. AQR Capital Management LLC now owns 265,177 shares of the shipping company's stock worth $2,076,000 after buying an additional 150,713 shares during the period. Dimensional Fund Advisors LP lifted its position in Pangaea Logistics Solutions by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,853,611 shares of the shipping company's stock worth $14,514,000 after buying an additional 112,298 shares during the period. American Century Companies Inc. lifted its position in 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 during the period. Finally, Kingsview Wealth Management LLC purchased a new position in Pangaea Logistics Solutions during the first quarter worth about $425,000. 60.23% of the stock is currently owned by hedge funds and other institutional investors.

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.

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