Pangaea Logistics Solutions (NASDAQ:PANL) Share Price Passes Above Fifty Day Moving Average - Should You Sell?

Key Points

• Pangaea Logistics Solutions shares crossed above their 50-day moving average, reaching $8.38 before trading around $8.32, compared with a 50-day average of $7.67.
• Analysts maintain a cautious outlook: one rates the stock Buy and two rate it Hold, resulting in an overall “Hold” consensus.
• The company reported quarterly EPS of $0.26, beating estimates by $0.02, and doubled its quarterly dividend to $0.10, implying a 4.8% annualized yield.

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL - Get Free Report)'s share price crossed above its 50-day moving average during trading on Monday . The stock has a 50-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 changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "hold (c+)" rating on shares of Pangaea Logistics Solutions in a research note on Monday, August 24th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold".

Pangaea Logistics Solutions Price Performance

The firm has a market capitalization of $544.71 million, a P/E ratio of 11.09 and a beta of 0.79. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.12 and a current ratio of 1.38. The firm has a 50-day moving average of $7.67 and a 200-day moving average of $7.61.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last issued its earnings results on Monday, August 10th. The shipping company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. Pangaea Logistics Solutions had a return on equity of 9.42% and a net margin of 6.70%.The business had revenue of $187.12 million for the quarter, compared to the consensus estimate of $192.76 million. As a group, analysts predict that Pangaea Logistics Solutions Ltd. will post 0.81 EPS for the current year.

Pangaea Logistics Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 4.8%. The ex-dividend date is Tuesday, September 1st. This is a positive change from Pangaea Logistics Solutions's previous quarterly dividend of $0.05. Pangaea Logistics Solutions's dividend payout ratio is 53.33%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted its position in Pangaea Logistics Solutions by 5.6% during the first quarter. Bank of America Corp DE now owns 28,844 shares of the shipping company's stock valued at $204,000 after purchasing an additional 1,534 shares during the period. Bank of New York Mellon Corp boosted its holdings in Pangaea Logistics Solutions by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 80,261 shares of the shipping company's stock worth $568,000 after purchasing an additional 1,732 shares during the last quarter. Tidal Investments LLC grew its position in Pangaea Logistics Solutions by 25.0% in the 2nd quarter. Tidal Investments LLC now owns 49,705 shares of the shipping company's stock worth $323,000 after purchasing an additional 9,943 shares during the period. Quantinno Capital Management LP grew its position in Pangaea Logistics Solutions by 13.2% in the 1st quarter. Quantinno Capital Management LP now owns 86,583 shares of the shipping company's stock worth $613,000 after purchasing an additional 10,098 shares during the period. Finally, AXQ Capital LP purchased a new stake in Pangaea Logistics Solutions during the 4th quarter valued at $94,000. Institutional investors own 60.23% of the company's stock.

About Pangaea Logistics Solutions

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.

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