Pangaea Logistics Solutions (NASDAQ:PANL) Shares Cross Above 50 Day Moving Average – Should You Sell?

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL)’s share price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $7.67 and traded as high as $8.38. Pangaea Logistics Solutions shares last traded at $8.32, with a volume of 327,577 shares.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Pangaea Logistics Solutions from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

Pangaea Logistics Solutions Trading Down 1.2%

The company has a current ratio of 1.38, a quick ratio of 1.12 and a debt-to-equity ratio of 0.55. The business’s fifty day simple moving average is $7.70 and its two-hundred day simple moving average is $7.61. The stock has a market capitalization of $542.09 million, a P/E ratio of 11.04 and a beta of 0.79.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings data on Monday, August 10th. The shipping company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. The company had revenue of $187.12 million for the quarter, compared to the consensus estimate of $192.76 million. Pangaea Logistics Solutions had a net margin of 6.70% and a return on equity of 9.42%. As a group, analysts forecast that Pangaea Logistics Solutions Ltd. will post 0.81 earnings per share for the current year.

Pangaea Logistics Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a dividend of $0.10 per share. This is a positive change from Pangaea Logistics Solutions’s previous quarterly dividend of $0.05. This represents a $0.40 annualized dividend and a yield of 4.8%. The ex-dividend date was Tuesday, September 1st. Pangaea Logistics Solutions’s dividend payout ratio is presently 53.33%.

Institutional Trading of Pangaea Logistics Solutions

A number of hedge funds have recently modified their holdings of PANL. Tidal Investments LLC increased its position in shares of Pangaea Logistics Solutions by 25.0% during the second quarter. Tidal Investments LLC now owns 49,705 shares of the shipping company’s stock valued at $323,000 after purchasing an additional 9,943 shares during the period. WINTON GROUP Ltd raised its stake in shares of Pangaea Logistics Solutions by 30.6% in the second quarter. WINTON GROUP Ltd now owns 106,580 shares of the shipping company’s stock valued at $693,000 after purchasing an additional 24,944 shares in the last quarter. Bank of America Corp DE lifted its position in Pangaea Logistics Solutions by 5.6% in the first quarter. Bank of America Corp DE now owns 28,844 shares of the shipping company’s stock worth $204,000 after purchasing an additional 1,534 shares during the period. Empowered Funds LLC lifted its position in Pangaea Logistics Solutions by 9.8% in the first quarter. Empowered Funds LLC now owns 413,152 shares of the shipping company’s stock worth $2,925,000 after purchasing an additional 36,990 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in Pangaea Logistics Solutions by 13.2% during the first quarter. Quantinno Capital Management LP now owns 86,583 shares of the shipping company’s stock worth $613,000 after buying an additional 10,098 shares in the last quarter. Institutional investors own 60.23% of the company’s stock.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) is a drybulk shipping and logistics company that provides transportation and related services for industrial customers around the world. The company transports drybulk commodities, including coal, grain, bauxite, alumina, limestone, dolomite, salt and other raw materials.

Pangaea operates and charters a fleet of drybulk vessels, including Handymax, Supramax and Panamax ships. Its services extend beyond ocean transportation and include cargo loading and unloading, stevedoring, terminal operations, inland transportation, vessel chartering and logistics management.