Pangaea Logistics Solutions (NASDAQ:PANL) Shares Gap Up Following Better-Than-Expected Earnings

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL)’s stock price gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $7.69, but opened at $8.23. Pangaea Logistics Solutions shares last traded at $7.9540, with a volume of 53,311 shares.

The shipping company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.06. Pangaea Logistics Solutions had a return on equity of 3.80% and a net margin of 3.06%.The company had revenue of $170.58 million during the quarter, compared to analyst estimates of $165.79 million.

Pangaea Logistics Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, June 1st. Pangaea Logistics Solutions’s payout ratio is 64.52%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PANL shares. Wall Street Zen cut shares of Pangaea Logistics Solutions from a “strong-buy” rating to a “buy” rating in a research report on Sunday, April 19th. Weiss Ratings restated a “hold (c)” rating on shares of Pangaea Logistics Solutions in a report on Friday, March 27th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Pangaea Logistics Solutions in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $9.00.

Institutional Trading of Pangaea Logistics Solutions

Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC acquired a new position in shares of Pangaea Logistics Solutions in the first quarter valued at approximately $195,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Pangaea Logistics Solutions by 18.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,342 shares of the shipping company’s stock worth $102,000 after buying an additional 3,344 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Pangaea Logistics Solutions by 6.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 233,537 shares of the shipping company’s stock worth $1,112,000 after buying an additional 14,357 shares in the last quarter. Empowered Funds LLC lifted its holdings in Pangaea Logistics Solutions by 7.3% during the 1st quarter. Empowered Funds LLC now owns 381,919 shares of the shipping company’s stock worth $1,818,000 after buying an additional 25,851 shares in the last quarter. Finally, Creative Planning boosted its position in Pangaea Logistics Solutions by 94.2% in the 2nd quarter. Creative Planning now owns 23,094 shares of the shipping company’s stock valued at $109,000 after buying an additional 11,204 shares during the period. Institutional investors and hedge funds own 60.23% of the company’s stock.

Pangaea Logistics Solutions Price Performance

The company’s 50-day simple moving average is $7.57 and its 200 day simple moving average is $7.28. The company has a market cap of $517.07 million, a PE ratio of 25.48 and a beta of 0.81. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.46 and a current ratio of 1.69.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions Ltd. is a global transportation and logistics company that provides ocean transportation and integrated logistics services. The company operates a fleet of drybulk vessels, including Handysize, Supramax and Ultramax carriers, to transport commodities such as coal, grain, minerals, ores and steel products. In parallel, Pangaea offers asset-light logistics solutions spanning freight forwarding, supply chain management and project cargo services, enabling end-to-end transport for bulk and breakbulk shipments.

Founded in 2012 as a spin-off from an established maritime shipping group, Pangaea Logistics Solutions went public on the Nasdaq in 2013 under the ticker PANL.