Pangaea Logistics Solutions (NASDAQ:PANL) Stock Rating Lowered by Alliance Global Partners

Alliance Global Partners cut shares of Pangaea Logistics Solutions (NASDAQ:PANLFree Report) from a buy rating to a neutral rating in a research report report published on Monday, MarketBeat Ratings reports. They currently have $8.75 price target on the shipping company’s stock.

Pangaea Logistics Solutions Stock Performance

NASDAQ:PANL opened at $8.50 on Monday. The company has a market capitalization of $395.00 million, a price-to-earnings ratio of 9.44 and a beta of 0.92. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.72 and a quick ratio of 1.49. Pangaea Logistics Solutions has a 1-year low of $5.06 and a 1-year high of $9.52. The business has a 50 day moving average of $8.15 and a 200 day moving average of $6.87.

Pangaea Logistics Solutions (NASDAQ:PANLGet Free Report) last announced its quarterly earnings data on Wednesday, November 8th. The shipping company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.20. The firm had revenue of $135.62 million during the quarter, compared to analyst estimates of $123.65 million. Pangaea Logistics Solutions had a net margin of 8.22% and a return on equity of 10.43%. On average, sell-side analysts predict that Pangaea Logistics Solutions will post 0.97 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Eric Rosenfeld sold 15,783 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $7.35, for a total value of $116,005.05. Following the completion of the sale, the director now owns 205,131 shares of the company’s stock, valued at approximately $1,507,712.85. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director David Sgro sold 10,714 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $7.09, for a total transaction of $75,962.26. Following the completion of the transaction, the director now directly owns 19,141 shares of the company’s stock, valued at $135,709.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eric Rosenfeld sold 15,783 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $7.35, for a total transaction of $116,005.05. Following the transaction, the director now directly owns 205,131 shares of the company’s stock, valued at $1,507,712.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,942 shares of company stock valued at $338,146. Insiders own 24.16% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada bought a new position in Pangaea Logistics Solutions during the 2nd quarter valued at approximately $26,000. Bank of America Corp DE raised its holdings in shares of Pangaea Logistics Solutions by 1,977.9% during the first quarter. Bank of America Corp DE now owns 4,800 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 4,569 shares in the last quarter. UBS Group AG raised its holdings in shares of Pangaea Logistics Solutions by 67.6% during the second quarter. UBS Group AG now owns 7,466 shares of the shipping company’s stock valued at $38,000 after acquiring an additional 3,012 shares in the last quarter. Sei Investments Co. bought a new position in Pangaea Logistics Solutions in the 2nd quarter worth $58,000. Finally, Commonwealth Equity Services LLC bought a new position in Pangaea Logistics Solutions in the 1st quarter worth $61,000. Institutional investors own 51.31% of the company’s stock.

About Pangaea Logistics Solutions

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Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. The company 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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