Alps Advisors Inc. Buys Shares of 46,070 Golden Ocean Group Limited (NASDAQ:GOGL)

Alps Advisors Inc. purchased a new stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 46,070 shares of the shipping company's stock, valued at approximately $368,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its position in Golden Ocean Group by 683.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company's stock valued at $25,000 after purchasing an additional 2,391 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Golden Ocean Group by 10.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 353,234 shares of the shipping company's stock valued at $3,165,000 after purchasing an additional 33,695 shares during the last quarter. Swiss National Bank lifted its position in Golden Ocean Group by 0.6% during the fourth quarter. Swiss National Bank now owns 257,524 shares of the shipping company's stock valued at $2,259,000 after purchasing an additional 1,658 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in Golden Ocean Group by 35.7% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 176,380 shares of the shipping company's stock valued at $1,549,000 after purchasing an additional 46,415 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in Golden Ocean Group by 9.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 36,786 shares of the shipping company's stock valued at $330,000 after purchasing an additional 3,106 shares during the last quarter. Institutional investors own 22.00% of the company's stock.

Golden Ocean Group Price Performance

Shares of GOGL stock traded down $0.12 on Friday, reaching $8.23. The company's stock had a trading volume of 4,833,467 shares, compared to its average volume of 2,404,438. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.66. The stock's fifty day simple moving average is $7.77 and its 200-day simple moving average is $8.19. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 14.44 and a beta of 1.05. Golden Ocean Group Limited has a 1 year low of $6.27 and a 1 year high of $13.50.

Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last announced its earnings results on Wednesday, May 21st. The shipping company reported ($0.19) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.09). Golden Ocean Group had a return on equity of 5.56% and a net margin of 13.16%. The firm had revenue of $115.00 million during the quarter, compared to the consensus estimate of $106.48 million. Analysts forecast that Golden Ocean Group Limited will post 1.14 earnings per share for the current fiscal year.

Golden Ocean Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Thursday, June 5th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $0.20 annualized dividend and a dividend yield of 2.43%. Golden Ocean Group's dividend payout ratio is presently 35.09%.

Analysts Set New Price Targets

GOGL has been the subject of several research analyst reports. Jefferies Financial Group dropped their target price on shares of Golden Ocean Group from $10.00 to $8.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen assumed coverage on shares of Golden Ocean Group in a report on Thursday, May 22nd. They issued a "hold" rating for the company.

Golden Ocean Group Profile

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels worldwide. The company's dry bulk vessels comprise Newcastlemax, Capesize, and Panamax vessels operating in the spot and time charter markets. It also transports a range of bulk commodities, including ores, coal, grains, and fertilizers.