Pangaea Logistics Solutions (NASDAQ:PANL) Stock Crosses Below Two Hundred Day Moving Average – Should You Sell?

Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-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 traded.

Analyst Ratings Changes

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

Pangaea Logistics Solutions Stock Up 1.2 %

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

Pangaea Logistics Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 7.98%. Pangaea Logistics Solutions’s payout ratio is 85.11%.

Institutional Investors Weigh In On Pangaea Logistics Solutions

Several institutional investors have recently added to or reduced their stakes in PANL. Principal Financial Group Inc. raised its holdings in Pangaea Logistics Solutions by 6.7% during the 2nd quarter. Principal Financial Group Inc. now owns 24,047 shares of the shipping company’s stock valued at $188,000 after acquiring an additional 1,514 shares during the period. Lakewood Asset Management LLC increased its position in shares of Pangaea Logistics Solutions by 8.4% during the third quarter. Lakewood Asset Management LLC now owns 36,337 shares of the shipping company’s stock valued at $263,000 after buying an additional 2,830 shares during the period. Algert Global LLC boosted its position in shares of Pangaea Logistics Solutions by 20.1% in the second quarter. Algert Global LLC now owns 18,215 shares of the shipping company’s stock valued at $143,000 after acquiring an additional 3,044 shares during the period. Jane Street Group LLC increased its holdings in Pangaea Logistics Solutions by 7.9% during the 3rd quarter. Jane Street Group LLC now owns 61,728 shares of the shipping company’s stock worth $446,000 after acquiring an additional 4,499 shares during the period. Finally, State Street Corp lifted its stake 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. 60.23% of the stock is owned by hedge funds and other institutional investors.

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.