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

Key Points

• PANL rose 5.2% and moved above its 50-day moving average of $8.13, trading as high as $8.56.
• Analyst sentiment is broadly positive: Weiss Ratings upgraded the stock to “buy,” and the consensus rating is “Moderate Buy” from three analysts.
• The company beat quarterly estimates, reporting EPS of $0.52 versus $0.31 expected and revenue of $219.06 million versus $204.90 million; it also declared a $0.10 quarterly dividend, equivalent to a 4.7% yield.

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL - Get Free Report) 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.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Pangaea Logistics Solutions from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, September 14th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Pangaea Logistics Solutions presently has a consensus rating of "Moderate Buy".

Pangaea Logistics Solutions Stock Up 5.2%

The stock's fifty day moving average is $8.13 and its two-hundred day moving average is $7.83. The company has a current ratio of 1.52, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The firm has a market cap of $559.15 million, a P/E ratio of 7.43 and a beta of 0.91.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last posted its earnings results 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. Pangaea Logistics Solutions had a net margin of 9.68% and a return on equity of 13.64%. The business had revenue of $219.06 million for the quarter, compared to analysts' expectations of $204.90 million. As a group, research analysts anticipate that Pangaea Logistics Solutions Ltd. will post 1.22 earnings per share for the current year.

Pangaea Logistics Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.40 annualized dividend and a dividend yield of 4.7%. Pangaea Logistics Solutions's dividend payout ratio is presently 34.78%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Several large investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue grew its position in Pangaea Logistics Solutions by 77.6% during the third quarter. State of Alaska Department of Revenue now owns 5,238 shares of the shipping company's stock worth $41,000 after buying an additional 2,289 shares in the last quarter. Ethic Inc. bought a new position in Pangaea Logistics Solutions in the 3rd quarter worth about $94,000. Bank of America Corp DE increased its stake in Pangaea Logistics Solutions by 5.6% in the 1st quarter. Bank of America Corp DE now owns 28,844 shares of the shipping company's stock worth $204,000 after acquiring an additional 1,534 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Pangaea Logistics Solutions by 25.0% in the 2nd quarter. Tidal Investments LLC now owns 49,705 shares of the shipping company's stock valued at $323,000 after acquiring an additional 9,943 shares in the last quarter. Finally, Lakewood Asset Management LLC raised its holdings in shares of Pangaea Logistics Solutions by 6.8% in the 3rd 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 in the last quarter. Institutional investors own 60.23% of the company's stock.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions Ltd. NASDAQ: PANL is a global provider of drybulk shipping and logistics services. The company transports industrial commodities for customers and manages the movement of cargo from origin to destination, combining marine transportation with related supply-chain services. Pangaea owns and operates a fleet of drybulk vessels, including Handysize, Supramax and Panamax-class ships. Its cargoes include a range of drybulk commodities such as coal, grain, cement, salt, gypsum, dolomite and iron ore.

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