Pangaea Logistics Solutions (NASDAQ:PANL) Stock Price Crosses Above 50 Day Moving Average - Time to Sell?

Key Points

• Pangaea Logistics Solutions (NASDAQ:PANL) shares crossed above their 50-day moving average of $5.16, reaching a high of $5.69 during trading.
• The company reported a quarterly EPS of ($0.02), exceeding analysts' expectations, along with revenues of $156.69 million, surpassed the estimates of $129.24 million.
• Pangaea recently announced a quarterly dividend of $0.05 per share, translating to an annual yield of 3.5%, with a high dividend payout ratio of 90.91%.

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL - Get Free Report) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $5.16 and traded as high as $5.69. Pangaea Logistics Solutions shares last traded at $5.64, with a volume of 208,339 shares.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. B. Riley cut their price objective on Pangaea Logistics Solutions from $11.00 to $9.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Wall Street Zen upgraded shares of Pangaea Logistics Solutions from a "sell" rating to a "hold" rating in a report on Friday, July 18th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $9.00.

Pangaea Logistics Solutions Stock Performance

The stock has a market capitalization of $357.52 million, a price-to-earnings ratio of 24.91 and a beta of 0.71. The company has a 50 day simple moving average of $5.17 and a 200-day simple moving average of $4.82. The company has a quick ratio of 1.15, a current ratio of 1.46 and a debt-to-equity ratio of 0.72.

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

Pangaea Logistics Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, September 2nd. Pangaea Logistics Solutions's payout ratio is 90.91%.

Institutional Trading of Pangaea Logistics Solutions

Large investors have recently made changes to their positions in the company. Bank of America Corp DE increased its position in Pangaea Logistics Solutions by 27.5% in the 4th quarter. Bank of America Corp DE now owns 32,312 shares of the shipping company's stock valued at $173,000 after buying an additional 6,965 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new position in shares of Pangaea Logistics Solutions during the fourth quarter worth approximately $307,000. Deutsche Bank AG acquired a new position in shares of Pangaea Logistics Solutions during the fourth quarter worth approximately $153,000. Mackenzie Financial Corp lifted its holdings in shares of Pangaea Logistics Solutions by 220.2% in the 4th quarter. Mackenzie Financial Corp now owns 63,727 shares of the shipping company's stock worth $342,000 after purchasing an additional 43,823 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Pangaea Logistics Solutions by 7.1% in the 4th quarter. Wellington Management Group LLP now owns 1,596,743 shares of the shipping company's stock valued at $8,559,000 after purchasing an additional 105,200 shares during the period. 60.23% of the stock is currently 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.