CWA Asset Management Group LLC Buys New Shares in Golden Ocean Group Limited (NASDAQ:GOGL)

CWA Asset Management Group LLC bought a new position in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 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 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of GOGL. New York State Common Retirement Fund lifted its position in shares of Golden Ocean Group by 16.5% in the fourth quarter. New York State Common Retirement Fund now owns 222,238 shares of the shipping company's stock valued at $1,991,000 after acquiring an additional 31,500 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Golden Ocean Group by 229.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,139,248 shares of the shipping company's stock worth $10,208,000 after purchasing an additional 793,470 shares in the last quarter. Denali Advisors LLC raised its stake in Golden Ocean Group by 27.3% during the 4th quarter. Denali Advisors LLC now owns 620,490 shares of the shipping company's stock valued at $5,560,000 after purchasing an additional 133,200 shares during the period. Jones Financial Companies Lllp lifted its holdings 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 worth $25,000 after purchasing an additional 2,391 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Golden Ocean Group in the 4th quarter worth approximately $46,000. Institutional investors own 22.00% of the company's stock.

Golden Ocean Group Price Performance

Shares of Golden Ocean Group stock opened at $7.83 on Friday. The firm has a market cap of $1.57 billion, a PE ratio of 13.74 and a beta of 1.10. The stock has a 50 day moving average of $7.61 and a 200 day moving average of $8.38. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.66. Golden Ocean Group Limited has a 12 month low of $6.27 and a 12 month high of $14.29.

Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The shipping company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $106.48 million. On average, research analysts expect that Golden Ocean Group Limited will post 1.14 EPS for the current fiscal year.

Golden Ocean Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, June 5th were given 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 yield of 2.55%. Golden Ocean Group's dividend payout ratio (DPR) is currently 35.09%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wall Street Zen assumed coverage on shares of Golden Ocean Group in a report on Thursday, May 22nd. They set a "hold" rating for the company. 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.

About Golden Ocean Group

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.

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