Pangaea Logistics Solutions (NASDAQ:PANL) Shares Cross Above 50 Day Moving Average – Here’s Why

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)’s share price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $5.30 and traded as high as $5.34. Pangaea Logistics Solutions shares last traded at $5.25, with a volume of 222,096 shares traded.

Wall Street Analysts Forecast Growth

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

Pangaea Logistics Solutions Stock Performance

The company has a current ratio of 2.05, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72. The company’s 50 day moving average is $5.30 and its 200-day moving average is $5.99. The company has a market capitalization of $341.05 million, a P/E ratio of 11.17 and a beta of 0.84.

Pangaea Logistics Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 7.62%. Pangaea Logistics Solutions’s payout ratio is 85.11%.

Institutional Trading of Pangaea Logistics Solutions

Several institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in Pangaea Logistics Solutions by 3.3% during the 4th quarter. Bank of New York Mellon Corp now owns 92,114 shares of the shipping company’s stock valued at $494,000 after purchasing an additional 2,916 shares during the last quarter. Wells Fargo & Company MN grew its position in Pangaea Logistics Solutions by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 18,396 shares of the shipping company’s stock valued at $99,000 after purchasing an additional 4,007 shares during the last quarter. Jane Street Group LLC grew its position in Pangaea Logistics Solutions by 7.9% during the 3rd quarter. Jane Street Group LLC now owns 61,728 shares of the shipping company’s stock valued at $446,000 after purchasing an additional 4,499 shares during the last quarter. State Street Corp grew its position in Pangaea Logistics Solutions by 0.8% during the 3rd 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, Bank of America Corp DE grew its position in Pangaea Logistics Solutions by 27.5% during the 4th quarter. Bank of America Corp DE now owns 32,312 shares of the shipping company’s stock valued at $173,000 after purchasing an additional 6,965 shares during the last quarter. 60.23% of the stock is owned by hedge funds and other institutional investors.

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.