Pangaea Logistics Solutions (NASDAQ:PANL) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) shares passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $8.13 and traded as high as $8.56. Pangaea Logistics Solutions shares last traded at $8.54, with a volume of 646,283 shares trading hands.

Analysts Set New Price Targets

A number of research firms have issued reports on PANL. Weiss Ratings upgraded Pangaea Logistics Solutions from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday. Zacks Research raised Pangaea Logistics Solutions from a “hold” rating to a “strong-buy” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy”.

Pangaea Logistics Solutions Stock Up 7.0%

The company has a quick ratio of 1.12, a current ratio of 1.52 and a debt-to-equity ratio of 0.50. The firm has a 50 day simple moving average of $8.17 and a 200-day simple moving average of $7.84. The stock has a market cap of $619.35 million, a P/E ratio of 8.42 and a beta of 0.91.

Pangaea Logistics Solutions (NASDAQ:PANL) last issued its quarterly earnings data on Thursday, November 5th. The shipping company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.21. The firm had revenue of $219.06 million during the quarter, compared to the consensus estimate of $204.90 million. Pangaea Logistics Solutions had a net margin of 9.68% and a return on equity of 13.64%. On average, equities research analysts forecast that Pangaea Logistics Solutions Ltd. will post 1.22 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, December 1st. Pangaea Logistics Solutions’s payout ratio is presently 34.78%.

Institutional Trading of Pangaea Logistics Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in the company. First Trust Advisors LP grew its position in shares of Pangaea Logistics Solutions by 20.8% in the 3rd quarter. First Trust Advisors LP now owns 136,377 shares of the shipping company’s stock valued at $1,094,000 after buying an additional 23,483 shares during the last quarter. Ritholtz Wealth Management lifted its stake in shares of Pangaea Logistics Solutions by 143.8% in the third quarter. Ritholtz Wealth Management now owns 197,773 shares of the shipping company’s stock worth $1,586,000 after acquiring an additional 116,658 shares during the period. Ethic Inc. bought a new stake in Pangaea Logistics Solutions in the third quarter valued at approximately $94,000. Lakewood Asset Management LLC boosted its holdings in Pangaea Logistics Solutions by 6.8% in the third quarter. Lakewood Asset Management LLC now owns 45,173 shares of the shipping company’s stock valued at $362,000 after acquiring an additional 2,894 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in Pangaea Logistics Solutions by 77.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 5,238 shares of the shipping company’s stock valued at $41,000 after purchasing an additional 2,289 shares during the period. 60.23% of the stock is currently owned by institutional investors.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions Ltd. is a global provider of dry-bulk shipping and logistics services. The company transports commodities such as minerals, grain and other bulk cargoes, coordinating ocean carriage with related logistics services. Its operations include vessel ownership and chartering, cargo planning, port and terminal services, stevedoring, and cargo loading and unloading. Pangaea also operates specialized vessels, including ice-class ships designed to serve ports and routes with challenging ice conditions.