Pangaea Logistics Solutions (NASDAQ:PANL) Stock Price Breaks Above Fifty Day Moving Average – Here’s Why

Shares of Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) 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 traded.

Analysts Set New Price Targets

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

Pangaea Logistics Solutions Stock Performance

The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.52. The stock has a market cap of $559.15 million, a PE ratio of 7.43 and a beta of 0.91. The company’s 50-day moving average price is $8.13 and its two-hundred day moving average price is $7.83.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced 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. The company had revenue of $219.06 million during the quarter, compared to analyst estimates of $204.90 million. Pangaea Logistics Solutions had a net margin of 9.68% and a return on equity of 13.64%. On average, equities research analysts forecast that Pangaea Logistics Solutions Ltd. will post 1.22 EPS for the current year.

Pangaea Logistics Solutions Announces Dividend

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

Hedge Funds Weigh In On Pangaea Logistics Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Pangaea Logistics Solutions by 13.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,884,470 shares of the shipping company’s stock valued at $20,421,000 after purchasing an additional 351,385 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Pangaea Logistics Solutions by 33.0% in the 1st quarter. Renaissance Technologies LLC now owns 746,100 shares of the shipping company’s stock worth $5,282,000 after buying an additional 185,100 shares during the last quarter. Empowered Funds LLC boosted its holdings in Pangaea Logistics Solutions by 9.8% in the first quarter. Empowered Funds LLC now owns 413,152 shares of the shipping company’s stock valued at $2,925,000 after acquiring an additional 36,990 shares in the last quarter. Ritholtz Wealth Management increased its position in shares of Pangaea Logistics Solutions by 143.8% during the third quarter. Ritholtz Wealth Management now owns 197,773 shares of the shipping company’s stock valued at $1,586,000 after buying an additional 116,658 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Pangaea Logistics Solutions by 66.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 208,875 shares of the shipping company’s stock worth $1,479,000 after acquiring an additional 83,380 shares during the period. 60.23% of the stock is currently owned by hedge funds and other institutional investors.

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.