Pangaea Logistics Solutions (NASDAQ:PANL) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.16 and traded as low as $5.26. Pangaea Logistics Solutions shares last traded at $5.30, with a volume of 179,521 shares changing hands.

Wall Street Analysts Forecast Growth

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

Pangaea Logistics Solutions Price Performance

The stock has a market cap of $344.29 million, a price-to-earnings ratio of 11.28 and a beta of 0.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.05 and a quick ratio of 1.77. The stock’s 50 day simple moving average is $5.38 and its two-hundred day simple moving average is $6.16.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 7.55%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is currently 85.11%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC acquired a new stake in shares of Pangaea Logistics Solutions during the third quarter worth approximately $761,000. Geode Capital Management LLC grew its position 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. Marshall Wace LLP acquired a new stake in Pangaea Logistics Solutions during the 2nd quarter valued at $381,000. Cubist Systematic Strategies LLC bought a new position in Pangaea Logistics Solutions in the 2nd quarter valued at $270,000. Finally, Barclays PLC boosted its stake in Pangaea Logistics Solutions by 271.4% in the third 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. 60.23% of the stock is currently owned by institutional investors and hedge funds.

Pangaea Logistics Solutions Company Profile

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.