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

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL)’s share price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $7.68 and traded as high as $7.70. Pangaea Logistics Solutions shares last traded at $7.68, with a volume of 345,760 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently commented on PANL. Wall Street Zen raised shares of Pangaea Logistics Solutions from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Weiss Ratings cut shares of Pangaea Logistics Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $9.00.

Pangaea Logistics Solutions Stock Performance

The company has a current ratio of 1.63, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $502.43 million, a price-to-earnings ratio of 13.96 and a beta of 0.79. The stock has a fifty day moving average price of $7.68 and a 200-day moving average price of $7.64.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its quarterly earnings results on Monday, May 11th. The shipping company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.05 by $0.06. Pangaea Logistics Solutions had a return on equity of 5.71% and a net margin of 5.10%.The business had revenue of $170.58 million for the quarter, compared to analyst estimates of $165.79 million. As a group, analysts anticipate that Pangaea Logistics Solutions Ltd. will post 0.71 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.20 annualized dividend and a dividend yield of 2.6%. Pangaea Logistics Solutions’s dividend payout ratio is presently 36.36%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake 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 worth $204,000 after buying an additional 1,534 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of 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 valued at $568,000 after acquiring an additional 1,732 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Pangaea Logistics Solutions by 13.0% in the 4th quarter. Royal Bank of Canada now owns 18,123 shares of the shipping company’s stock worth $125,000 after acquiring an additional 2,091 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Pangaea Logistics Solutions by 2.1% in the 4th quarter. First Trust Advisors LP now owns 106,813 shares of the shipping company’s stock worth $735,000 after acquiring an additional 2,159 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in Pangaea Logistics Solutions by 7.0% during the 3rd quarter. Alliancebernstein L.P. now owns 35,010 shares of the shipping company’s stock worth $178,000 after acquiring an additional 2,300 shares during the last quarter. 60.23% of the stock is currently owned by institutional investors and hedge funds.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions Ltd. is a global transportation and logistics company that provides ocean transportation and integrated logistics services. The company operates a fleet of drybulk vessels, including Handysize, Supramax and Ultramax carriers, to transport commodities such as coal, grain, minerals, ores and steel products. In parallel, Pangaea offers asset-light logistics solutions spanning freight forwarding, supply chain management and project cargo services, enabling end-to-end transport for bulk and breakbulk shipments.

Founded in 2012 as a spin-off from an established maritime shipping group, Pangaea Logistics Solutions went public on the Nasdaq in 2013 under the ticker PANL.