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

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

Pangaea Logistics Solutions Stock Performance

NASDAQ PANL remained flat at $6.27 during trading on Friday. 104,926 shares of the company's stock were exchanged, compared to its average volume of 213,706. The company has a quick ratio of 1.82, a current ratio of 2.16 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $294.06 million, a PE ratio of 8.04 and a beta of 0.86. Pangaea Logistics Solutions has a 1 year low of $5.74 and a 1 year high of $9.52. The stock has a fifty day simple moving average of $6.64 and a 200-day simple moving average of $7.12.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The shipping company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.05). Pangaea Logistics Solutions had a return on equity of 8.76% and a net margin of 7.02%. The business had revenue of $131.50 million during the quarter, compared to the consensus estimate of $98.09 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. As a group, analysts expect that Pangaea Logistics Solutions will post 0.76 earnings per share for the current year.

Institutional Trading of Pangaea Logistics Solutions

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in Pangaea Logistics Solutions by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,853,611 shares of the shipping company's stock worth $14,514,000 after acquiring an additional 112,298 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Pangaea Logistics Solutions by 131.7% in the second quarter. AQR Capital Management LLC now owns 265,177 shares of the shipping company's stock worth $2,076,000 after purchasing an additional 150,713 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Pangaea Logistics Solutions during the 2nd quarter worth about $270,000. Lazard Asset Management LLC bought a new stake in Pangaea Logistics Solutions during the 1st quarter valued at approximately $61,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Pangaea Logistics Solutions by 50.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 27,998 shares of the shipping company's stock valued at $196,000 after buying an additional 9,352 shares during the last quarter. 60.23% of the stock is owned by institutional investors.

About Pangaea Logistics Solutions

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.