Pangaea Logistics Solutions, Ltd. (NASDAQ:PANL - Get Free Report) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.16 and traded as low as $5.26. Pangaea Logistics Solutions shares last traded at $5.30, with a volume of 179,521 shares.
Analysts Set New Price Targets
Separately, StockNews.com downgraded shares of Pangaea Logistics Solutions from a "buy" rating to a "hold" rating in a research note on Friday, November 15th.
View Our Latest Analysis on Pangaea Logistics Solutions
Pangaea Logistics Solutions Price Performance
The stock has a market capitalization of $342.02 million, a price-to-earnings ratio of 11.20 and a beta of 0.84. The company has a quick ratio of 1.77, a current ratio of 2.05 and a debt-to-equity ratio of 0.72. The business's 50 day simple moving average is $5.36 and its 200-day simple moving average is $6.12.
Pangaea Logistics Solutions Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 7.60%. Pangaea Logistics Solutions's payout ratio is 85.11%.
Institutional Investors Weigh In On Pangaea Logistics Solutions
A number of large investors have recently bought and sold shares of PANL. Bank of New York Mellon Corp boosted its stake in shares of Pangaea Logistics Solutions by 3.3% in the 4th quarter. Bank of New York Mellon Corp now owns 92,114 shares of the shipping company's stock valued at $494,000 after purchasing an additional 2,916 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Pangaea Logistics Solutions by 7.9% in the 3rd quarter. Jane Street Group LLC now owns 61,728 shares of the shipping company's stock valued at $446,000 after purchasing an additional 4,499 shares in the last quarter. State Street Corp boosted its stake in shares of Pangaea Logistics Solutions by 0.8% in the 3rd quarter. State Street Corp now owns 577,110 shares of the shipping company's stock valued at $4,173,000 after purchasing an additional 4,564 shares in the last quarter. Commonwealth Equity Services LLC acquired a new stake in shares of Pangaea Logistics Solutions in the 4th quarter valued at approximately $55,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Pangaea Logistics Solutions in the 3rd quarter valued at approximately $113,000. 60.23% of the stock is currently owned by institutional investors and hedge funds.
About Pangaea Logistics Solutions
(
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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.
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