Pangaea Logistics Solutions (NASDAQ:PANL) Shares Break Above 50-Day Moving Average - Should You Sell?

Key Points

• Pangaea Logistics Solutions shares rose above their 50-day moving average, trading as high as $8.45 and last at $8.43, compared with a 50-day average of $7.97. Analysts currently give the stock a “Moderate Buy” consensus.
• The company’s latest quarterly results beat expectations on earnings, reporting $0.26 EPS versus a $0.24 estimate, though revenue of $187.12 million fell short of the $192.76 million consensus.
• Pangaea doubled its quarterly dividend to $0.10 per share, equivalent to a 4.7% annualized yield, while institutional investors own approximately 60.23% of the stock.

Shares of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL - Get Free Report) passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $7.97 and traded as high as $8.45. Pangaea Logistics Solutions shares last traded at $8.43, with a volume of 309,992 shares traded.

Analyst Upgrades and Downgrades

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

Pangaea Logistics Solutions Stock Up 0.2%

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's 50 day moving average price is $7.97 and its two-hundred day moving average price is $7.60. The company has a market cap of $551.91 million, a P/E ratio of 11.24 and a beta of 0.82.

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

Pangaea Logistics Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.10 per share. This is a boost from Pangaea Logistics Solutions's previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.7%. Pangaea Logistics Solutions's payout ratio is currently 53.33%.

Institutional Trading of Pangaea Logistics Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PANL. Dimensional Fund Advisors LP grew its stake in Pangaea Logistics Solutions by 13.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,884,470 shares of the shipping company's stock valued at $20,421,000 after acquiring an additional 351,385 shares during the period. Renaissance Technologies LLC raised its position in shares of Pangaea Logistics Solutions by 33.0% during the first quarter. Renaissance Technologies LLC now owns 746,100 shares of the shipping company's stock worth $5,282,000 after purchasing an additional 185,100 shares during the period. Sei Investments Co. bought a new position in shares of Pangaea Logistics Solutions in the 1st quarter worth $933,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Pangaea Logistics Solutions by 66.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 208,875 shares of the shipping company's stock worth $1,479,000 after purchasing an additional 83,380 shares in the last quarter. Finally, Empowered Funds LLC grew its position in Pangaea Logistics Solutions by 9.8% in the 1st quarter. Empowered Funds LLC now owns 413,152 shares of the shipping company's stock valued at $2,925,000 after purchasing an additional 36,990 shares during the period. 60.23% of the stock is owned by institutional investors.

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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