Pangaea Logistics Solutions (NASDAQ:PANL) Stock Passes Above Fifty Day Moving Average - Here's What Happened

Key Points

• Pangaea Logistics Solutions shares have recently traded above their 50-day moving average of $5.00, reaching as high as $5.40.
• Research firms have adjusted their ratings, with B. Riley lowering the target price from $11.00 to $9.00, while one analyst upgraded the stock from a "sell" to a "hold" rating.
• The company is set to pay a quarterly dividend of $0.05 per share on September 15th, which translates to a 3.7% annualized yield.

Shares of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL - Get Free Report) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $5.00 and traded as high as $5.40. Pangaea Logistics Solutions shares last traded at $5.38, with a volume of 230,395 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PANL shares. Wall Street Zen raised shares of Pangaea Logistics Solutions from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. B. Riley cut their target price on shares of Pangaea Logistics Solutions from $11.00 to $9.00 and set a "buy" rating for the company in a research note on Monday, August 11th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Pangaea Logistics Solutions presently has an average rating of "Buy" and a consensus target price of $9.00.

Pangaea Logistics Solutions Stock Performance

The stock's 50 day moving average price is $5.04 and its 200 day moving average price is $4.78. The company has a current ratio of 1.46, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. The company has a market cap of $347.73 million, a price-to-earnings ratio of 24.23 and a beta of 0.71.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The shipping company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.02. Pangaea Logistics Solutions had a net margin of 1.52% and a return on equity of 3.38%. The company had revenue of $156.69 million during the quarter, compared to the consensus estimate of $129.24 million. On average, analysts expect that Pangaea Logistics Solutions Ltd. will post 0.43 EPS for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Tuesday, September 2nd. Pangaea Logistics Solutions's dividend payout ratio is currently 90.91%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in Pangaea Logistics Solutions by 15.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,552 shares of the shipping company's stock worth $88,000 after acquiring an additional 2,551 shares during the period. 683 Capital Management LLC raised its position in shares of Pangaea Logistics Solutions by 0.5% in the 1st quarter. 683 Capital Management LLC now owns 609,990 shares of the shipping company's stock valued at $2,904,000 after purchasing an additional 2,843 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Pangaea Logistics Solutions by 2.1% in the 1st quarter. Victory Capital Management Inc. now owns 147,419 shares of the shipping company's stock valued at $702,000 after purchasing an additional 3,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Pangaea Logistics Solutions by 18.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,342 shares of the shipping company's stock valued at $102,000 after purchasing an additional 3,344 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Pangaea Logistics Solutions by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 18,396 shares of the shipping company's stock valued at $99,000 after purchasing an additional 4,007 shares in the last quarter. Hedge funds and other institutional investors own 60.23% of the company's stock.

Pangaea Logistics Solutions Company Profile

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.