Deutsche Bank AG Boosts Stake in Golden Ocean Group Limited (NASDAQ:GOGL)

Deutsche Bank AG lifted its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 27.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 339,413 shares of the shipping company's stock after purchasing an additional 72,925 shares during the period. Deutsche Bank AG owned 0.17% of Golden Ocean Group worth $3,041,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Jones Financial Companies Lllp lifted its stake in Golden Ocean Group by 683.1% in the fourth 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 period. Sterling Capital Management LLC increased its stake in shares of 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 acquiring an additional 3,478 shares in the last quarter. Quarry LP lifted its position in shares of Golden Ocean Group by 195.3% during the 4th quarter. Quarry LP now owns 4,981 shares of the shipping company's stock valued at $45,000 after acquiring an additional 3,294 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Golden Ocean Group during the 4th quarter valued at $46,000. Finally, Tower Research Capital LLC TRC boosted its stake in Golden Ocean Group by 47.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,294 shares of the shipping company's stock worth $47,000 after acquiring an additional 1,694 shares in the last quarter. Institutional investors own 22.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on GOGL shares. Wall Street Zen initiated coverage on shares of Golden Ocean Group in a research note on Thursday. They issued a "hold" rating for the company. Jefferies Financial Group reduced their target price on Golden Ocean Group from $10.00 to $8.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd.

Golden Ocean Group Stock Up 0.8%

Shares of NASDAQ:GOGL traded up $0.06 during trading on Monday, reaching $7.23. 2,322,489 shares of the stock were exchanged, compared to its average volume of 2,247,456. Golden Ocean Group Limited has a 1-year low of $6.27 and a 1-year high of $14.82. The stock has a fifty day moving average of $7.57 and a two-hundred day moving average of $8.78. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 5.98 and a beta of 1.06.

Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last announced its quarterly 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 net margin of 23.89% and a return on equity of 13.14%. The business had revenue of $115.00 million for the quarter, compared to the consensus estimate of $106.48 million. Research analysts anticipate that Golden Ocean Group Limited will post 1.14 earnings per share for the current fiscal year.

Golden Ocean Group Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were issued a $0.15 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 8.30%. Golden Ocean Group's dividend payout ratio 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.