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

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)’s stock price crossed 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 changing hands.

Analyst Ratings Changes

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

Pangaea Logistics Solutions Stock Up 1.0 %

The stock’s fifty day moving average is $5.30 and its 200 day moving average is $5.99. 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 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.40 annualized dividend and a yield of 7.62%. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 85.11%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PANL. Wealth Enhancement Advisory Services LLC bought a new position in Pangaea Logistics Solutions in the 3rd quarter worth $113,000. Janney Montgomery Scott LLC bought a new position in Pangaea Logistics Solutions in the 3rd quarter worth $761,000. Victory Capital Management Inc. raised its holdings in Pangaea Logistics Solutions by 16.7% in the 3rd quarter. Victory Capital Management Inc. now owns 142,917 shares of the shipping company’s stock worth $1,033,000 after purchasing an additional 20,498 shares in the last quarter. Royce & Associates LP raised its holdings in Pangaea Logistics Solutions by 2.1% in the 3rd quarter. Royce & Associates LP now owns 774,452 shares of the shipping company’s stock worth $5,599,000 after purchasing an additional 16,207 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in Pangaea Logistics Solutions by 5.3% in the 3rd 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 in the last quarter. 60.23% of the stock is currently owned by 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.