Pangaea Logistics Solutions (NASDAQ:PANL) Shares Cross Above Fifty Day Moving Average of $7.44

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $7.44 and traded as high as $7.95. Pangaea Logistics Solutions shares last traded at $7.88, with a volume of 155,658 shares changing hands.

Analysts Set New Price Targets

PANL has been the topic of several research reports. Alliance Global Partners upgraded Pangaea Logistics Solutions from a “neutral” rating to a “buy” rating and set a $10.25 price objective on the stock in a research note on Monday, May 13th. StockNews.com upgraded Pangaea Logistics Solutions from a “hold” rating to a “buy” rating in a report on Friday, May 10th.

Pangaea Logistics Solutions Stock Down 3.9 %

The firm’s 50 day moving average price is $7.47 and its two-hundred day moving average price is $7.78. The firm has a market capitalization of $348.02 million, a PE ratio of 9.78 and a beta of 0.86. The company has a quick ratio of 1.75, a current ratio of 1.97 and a debt-to-equity ratio of 0.54.

Pangaea Logistics Solutions (NASDAQ:PANL) last announced its earnings results on Thursday, May 9th. The shipping company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. Pangaea Logistics Solutions had a return on equity of 8.86% and a net margin of 7.04%. The company had revenue of $104.75 million during the quarter, compared to the consensus estimate of $117.47 million. During the same period last year, the firm earned $0.11 earnings per share. As a group, research analysts forecast that Pangaea Logistics Solutions, Ltd. will post 0.73 EPS for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.38%. The ex-dividend date of this dividend was Thursday, May 30th. Pangaea Logistics Solutions’s payout ratio is 52.63%.

Institutional Trading of Pangaea Logistics Solutions

A number of hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new position in Pangaea Logistics Solutions during the 4th quarter valued at $35,000. Tower Research Capital LLC TRC grew its stake in Pangaea Logistics Solutions by 245.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,142 shares of the shipping company’s stock worth $59,000 after purchasing an additional 5,077 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Pangaea Logistics Solutions in the first quarter worth about $61,000. Quadrature Capital Ltd bought a new stake in Pangaea Logistics Solutions in the third quarter valued at about $108,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in Pangaea Logistics Solutions during the first quarter valued at approximately $114,000. Institutional investors and hedge funds own 60.23% of the company’s stock.

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.