Vanguard Group Inc. Lowers Stock Position in Golden Ocean Group Limited $GOGL

Key Points

• Vanguard Group Inc. has reduced its stake in Golden Ocean Group Limited by 4.3%, selling 250,180 shares, and now holds approximately 2.77% of the company valued at $44.56 million.
• Several other institutional investors have significantly increased their holdings in the company, including CWM LLC, which boosted its stake by 330.1% during the same period.
• The stock currently has a market cap of $1.59 billion with a consensus rating of "Hold" and a price target of $10.25 according to analysts.

Vanguard Group Inc. lessened its holdings in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 4.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,548,492 shares of the shipping company's stock after selling 250,180 shares during the period. Vanguard Group Inc. owned about 2.77% of Golden Ocean Group worth $44,561,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. CWM LLC lifted its position in shares of Golden Ocean Group by 330.1% in the 1st quarter. CWM LLC now owns 3,402 shares of the shipping company's stock worth $27,000 after purchasing an additional 2,611 shares during the period. Quarry LP grew its position in Golden Ocean Group by 195.3% during the 4th quarter. Quarry LP now owns 4,981 shares of the shipping company's stock worth $45,000 after purchasing an additional 3,294 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Golden Ocean Group by 47.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,294 shares of the shipping company's stock worth $47,000 after purchasing an additional 1,694 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Golden Ocean Group by 405.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 8,100 shares of the shipping company's stock worth $65,000 after purchasing an additional 6,498 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its position in Golden Ocean Group by 63.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 8,395 shares of the shipping company's stock worth $67,000 after purchasing an additional 3,267 shares during the last quarter. Hedge funds and other institutional investors own 22.00% of the company's stock.

Golden Ocean Group Price Performance

Shares of GOGL remained flat at $7.98 during mid-day trading on Friday. 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 $13.44. The business has a 50 day moving average price of $8.13 and a 200-day moving average price of $8.00. The company has a market cap of $1.59 billion, a P/E ratio of 14.00 and a beta of 1.09.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen started coverage on shares of Golden Ocean Group in a report on Thursday, May 22nd. They issued a "hold" rating on the stock. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $10.25.

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.