Pangaea Logistics Solutions (NASDAQ:PANL) Stock Rating Lowered by StockNews.com

Pangaea Logistics Solutions (NASDAQ:PANL) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Pangaea Logistics Solutions Trading Down 1.7 %

Shares of NASDAQ:PANL opened at $6.30 on Friday. The company has a quick ratio of 1.82, a current ratio of 2.05 and a debt-to-equity ratio of 0.72. Pangaea Logistics Solutions has a fifty-two week low of $6.09 and a fifty-two week high of $9.52. The company’s 50-day moving average price is $6.58 and its 200 day moving average price is $7.08. The company has a market cap of $295.47 million, a PE ratio of 13.40 and a beta of 0.87.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PANL. Dimensional Fund Advisors LP raised its holdings in shares of Pangaea Logistics Solutions by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,853,611 shares of the shipping company’s stock worth $14,514,000 after purchasing an additional 112,298 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of 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 acquiring an additional 150,713 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Pangaea Logistics Solutions in the 2nd quarter valued at approximately $270,000. Lazard Asset Management LLC acquired a new position in Pangaea Logistics Solutions in the 1st quarter worth approximately $61,000. Finally, Price T Rowe Associates Inc. MD grew its position in Pangaea Logistics Solutions by 50.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 27,998 shares of the shipping company’s stock worth $196,000 after purchasing an additional 9,352 shares in the last quarter. 60.23% of the stock is owned by institutional investors and hedge funds.

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.