Pangaea Logistics Solutions (NASDAQ:PANL) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)’s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.64 and traded as low as $4.95. Pangaea Logistics Solutions shares last traded at $5.01, with a volume of 82,953 shares.

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 report on Friday, November 15th.

Pangaea Logistics Solutions Price Performance

The firm has a market capitalization of $234.98 million, a P/E ratio of 10.66 and a beta of 0.84. The business’s 50-day simple moving average is $5.92 and its 200 day simple moving average is $6.64. The company has a quick ratio of 1.77, a current ratio of 2.05 and a debt-to-equity ratio of 0.72.

Pangaea Logistics Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 7.98%. The ex-dividend date was Friday, November 29th. Pangaea Logistics Solutions’s dividend payout ratio (DPR) is presently 85.11%.

Hedge Funds Weigh In On Pangaea Logistics Solutions

Several institutional investors and hedge funds have recently bought and sold shares of PANL. Barclays PLC grew its stake in shares of Pangaea Logistics Solutions by 271.4% in the third quarter. Barclays PLC now owns 46,899 shares of the shipping company’s stock worth $339,000 after purchasing an additional 34,273 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Pangaea Logistics Solutions by 7.8% during the third quarter. Geode Capital Management LLC now owns 837,827 shares of the shipping company’s stock valued at $6,059,000 after acquiring an additional 60,841 shares in the last quarter. Jane Street Group LLC boosted its holdings in Pangaea Logistics Solutions by 7.9% in the third quarter. Jane Street Group LLC now owns 61,728 shares of the shipping company’s stock valued at $446,000 after acquiring an additional 4,499 shares in the last quarter. State Street Corp raised its holdings in Pangaea Logistics Solutions by 0.8% in the 3rd quarter. State Street Corp now owns 577,110 shares of the shipping company’s stock worth $4,173,000 after purchasing an additional 4,564 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in Pangaea Logistics Solutions by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 338,679 shares of the shipping company’s stock valued at $2,449,000 after acquiring 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.