Pangaea Logistics Solutions (NASDAQ:PANL) Share Price Crosses Below 200-Day Moving Average of $7.36

Shares of Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.36 and traded as low as $6.15. Pangaea Logistics Solutions shares last traded at $6.21, with a volume of 79,529 shares.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. StockNews.com cut shares of Pangaea Logistics Solutions from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 30th. Alliance Global Partners raised shares of Pangaea Logistics Solutions from a “neutral” rating to a “buy” rating and set a $10.25 price target for the company in a research note on Monday, May 13th.

Pangaea Logistics Solutions Stock Down 2.2 %

The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.82 and a current ratio of 2.16. The company has a fifty day simple moving average of $6.99 and a two-hundred day simple moving average of $7.34. The firm has a market capitalization of $291.26 million, a PE ratio of 8.17 and a beta of 0.85.

Pangaea Logistics Solutions (NASDAQ:PANL) last posted its quarterly earnings results on Thursday, August 8th. The shipping company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.05). Pangaea Logistics Solutions had a net margin of 7.02% and a return on equity of 8.76%. The business had revenue of $131.50 million during the quarter, compared to the consensus estimate of $98.09 million. During the same quarter in the prior year, the firm posted $0.10 EPS. Analysts forecast that Pangaea Logistics Solutions, Ltd. will post 0.76 EPS for the current fiscal year.

Pangaea Logistics Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 2nd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.44%. The ex-dividend date of this dividend is Friday, August 30th. Pangaea Logistics Solutions’s payout ratio is currently 52.63%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Pangaea Logistics Solutions by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,853,611 shares of the shipping company’s stock worth $14,514,000 after buying an additional 112,298 shares during the last quarter. Cable Car Capital LLC purchased a new stake in shares of Pangaea Logistics Solutions during the fourth quarter worth about $7,299,000. American Century Companies Inc. increased its holdings in shares of Pangaea Logistics Solutions by 14.1% during the second quarter. American Century Companies Inc. now owns 725,829 shares of the shipping company’s stock valued at $5,683,000 after acquiring an additional 89,570 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Pangaea Logistics Solutions by 2.0% during the first quarter. Vanguard Group Inc. now owns 701,875 shares of the shipping company’s stock valued at $4,892,000 after acquiring an additional 13,542 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Pangaea Logistics Solutions by 4.6% in the 2nd quarter. Renaissance Technologies LLC now owns 614,150 shares of the shipping company’s stock valued at $4,809,000 after purchasing an additional 26,750 shares during the last quarter. Hedge funds and other institutional investors 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.