CWA Asset Management Group LLC Purchases Shares of 142,356 Golden Ocean Group Limited (NASDAQ:GOGL)

CWA Asset Management Group LLC purchased a new position in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 142,356 shares of the shipping company's stock, valued at approximately $1,136,000. CWA Asset Management Group LLC owned 0.07% of Golden Ocean Group at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its position in Golden Ocean Group by 683.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company's stock valued at $25,000 after buying an additional 2,391 shares during the last quarter. Sterling Capital Management LLC boosted its position in Golden Ocean Group by 830.1% in the 4th quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company's stock valued at $35,000 after buying an additional 3,478 shares during the last quarter. Quarry LP boosted its position in Golden Ocean Group by 195.3% in the 4th quarter. Quarry LP now owns 4,981 shares of the shipping company's stock valued at $45,000 after buying an additional 3,294 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Golden Ocean Group in the 4th quarter valued at about $46,000. Finally, Tower Research Capital LLC TRC boosted its position in Golden Ocean Group by 47.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,294 shares of the shipping company's stock valued at $47,000 after buying an additional 1,694 shares during the last quarter. 22.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Golden Ocean Group Stock Down 0.3%

Shares of Golden Ocean Group stock traded down $0.02 during trading on Monday, reaching $7.61. The company had a trading volume of 1,767,264 shares, compared to its average volume of 2,280,330. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 13.35 and a beta of 1.10. The firm's fifty day moving average is $7.62 and its 200-day moving average is $8.34. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.81 and a current ratio of 0.81. Golden Ocean Group Limited has a fifty-two week low of $6.27 and a fifty-two week high of $14.29.

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

Golden Ocean Group Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Thursday, June 5th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.63%. Golden Ocean Group's dividend payout ratio (DPR) is presently 35.09%.

Golden Ocean Group Company 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.