Pangaea Logistics Solutions (NASDAQ:PANL) Shares Cross Below Two Hundred Day Moving Average – What’s Next?

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.64 and traded as low as $4.95. Pangaea Logistics Solutions shares last traded at $5.01, with a volume of 82,953 shares traded.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Pangaea Logistics Solutions from a “buy” rating to a “hold” rating in a report on Friday, November 15th.

Pangaea Logistics Solutions Trading Down 2.2 %

The firm has a market cap of $229.82 million, a P/E ratio of 10.43 and a beta of 0.83. The firm has a fifty day simple moving average of $5.89 and a 200-day simple moving average of $6.62. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.77.

Pangaea Logistics Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 8.16%. The ex-dividend date was Friday, November 29th. Pangaea Logistics Solutions’s payout ratio is currently 85.11%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PANL. Barclays PLC increased its holdings in Pangaea Logistics Solutions by 271.4% during the 3rd quarter. Barclays PLC now owns 46,899 shares of the shipping company’s stock worth $339,000 after purchasing an additional 34,273 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Pangaea Logistics Solutions by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 837,827 shares of the shipping company’s stock worth $6,059,000 after acquiring an additional 60,841 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Pangaea Logistics Solutions by 7.9% in the 3rd quarter. Jane Street Group LLC now owns 61,728 shares of the shipping company’s stock worth $446,000 after acquiring an additional 4,499 shares in the last quarter. State Street Corp raised its holdings in shares of Pangaea Logistics Solutions by 0.8% in the third quarter. State Street Corp now owns 577,110 shares of the shipping company’s stock valued at $4,173,000 after purchasing an additional 4,564 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in Pangaea Logistics Solutions by 5.3% during the third quarter. Empowered Funds LLC now owns 338,679 shares of the shipping company’s stock worth $2,449,000 after purchasing an additional 17,152 shares during the last quarter. 60.23% of the stock is currently owned by institutional investors and hedge funds.

About Pangaea Logistics Solutions

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.