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

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

Wall Street Analysts Forecast Growth

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

Pangaea Logistics Solutions Price Performance

The business’s 50-day simple moving average is $7.97 and its two-hundred day simple moving average is $7.60. The stock has a market cap of $551.91 million, a P/E ratio of 11.24 and a beta of 0.82. The company has a quick ratio of 1.12, a current ratio of 1.38 and a debt-to-equity ratio of 0.55.

Pangaea Logistics Solutions (NASDAQ:PANL) last released 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 net margin of 6.70% and a return on equity of 9.42%. The company had revenue of $187.12 million for the quarter, compared to analyst estimates of $192.76 million. Sell-side analysts expect that Pangaea Logistics Solutions Ltd. will post 0.81 EPS for the current year.

Pangaea Logistics Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, September 1st. This represents a $0.40 dividend on an annualized basis and a yield of 4.7%. This is a boost from Pangaea Logistics Solutions’s previous quarterly dividend of $0.05. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 53.33%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. AXQ Capital LP bought a new stake in shares of Pangaea Logistics Solutions during the 4th quarter valued at about $94,000. Ritholtz Wealth Management bought a new position in Pangaea Logistics Solutions in the first quarter worth about $158,000. Bank of America Corp DE raised its stake in Pangaea Logistics Solutions by 5.6% in 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 in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in Pangaea Logistics Solutions in the first quarter worth about $242,000. Finally, Relyea Zuckerberg Hanson LLC boosted its position in Pangaea Logistics Solutions by 61.3% during the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 37,228 shares of the shipping company’s stock valued at $264,000 after acquiring an additional 14,151 shares in the last quarter. 60.23% of the stock is currently owned by institutional investors.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) is a drybulk shipping and logistics company that provides ocean transportation services for industrial and agricultural commodities. The company transports cargoes such as coal, grain, salt, gypsum, dolomite, bauxite and other bulk materials for customers involved in mining, energy, construction and manufacturing.

Pangaea owns and operates a fleet of drybulk vessels and also charters additional ships to support its transportation activities.