Pangaea Logistics Solutions (NASDAQ:PANL) Share Price Passes Below 200 Day Moving Average – Time to Sell?

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)’s share price 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 traded.

Wall Street Analysts Forecast Growth

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

Pangaea Logistics Solutions Stock Up 0.6 %

The stock has a market cap of $344.29 million, a P/E ratio of 11.28 and a beta of 0.84. The company has a quick ratio of 1.77, a current ratio of 2.05 and a debt-to-equity ratio of 0.72. The business has a 50-day simple moving average of $5.38 and a 200-day simple moving average of $6.16.

Pangaea Logistics Solutions Announces Dividend

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

Hedge Funds Weigh In On Pangaea Logistics Solutions

Several large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its holdings in Pangaea Logistics Solutions by 3.3% in 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 buying an additional 2,916 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Pangaea Logistics Solutions by 5.1% in the fourth quarter. Empowered Funds LLC now owns 356,068 shares of the shipping company’s stock valued at $1,909,000 after acquiring an additional 17,389 shares during the period. Hudson Valley Investment Advisors Inc. ADV acquired a new stake in shares of Pangaea Logistics Solutions in the fourth quarter worth $123,000. Barclays PLC increased its position in Pangaea Logistics Solutions by 271.4% during the third quarter. Barclays PLC now owns 46,899 shares of the shipping company’s stock worth $339,000 after acquiring an additional 34,273 shares during the period. Finally, Geode Capital Management LLC raised its stake 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 valued at $6,059,000 after purchasing an additional 60,841 shares during the last quarter. Institutional investors and hedge funds own 60.23% of the company’s stock.

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.