Skandinaviska Enskilda Banken AB publ Has $75,000 Stake in Golden Ocean Group Limited (NASDAQ:GOGL)

Key Points

• Skandinaviska Enskilda Banken AB publ significantly reduced its stake in Golden Ocean Group Limited by 94.7% during the 1st quarter, leaving it with only 9,354 shares valued at approximately $75,000.
• The company posted a net loss of ($0.19) earnings per share in its recent quarterly report, missing analysts' expectations, despite generating a revenue of $115 million.
• Golden Ocean Group announced a quarterly dividend of $0.05 per share, representing a 2.42% dividend yield with a payout ratio of 35.09%.

Skandinaviska Enskilda Banken AB publ lowered its position in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 94.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,354 shares of the shipping company's stock after selling 167,026 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Golden Ocean Group were worth $75,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Golden Ocean Group by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 5,798,672 shares of the shipping company's stock worth $50,978,000 after buying an additional 71,918 shares in the last quarter. Encompass Capital Advisors LLC boosted its stake in Golden Ocean Group by 1,402.3% during the 4th quarter. Encompass Capital Advisors LLC now owns 1,905,407 shares of the shipping company's stock valued at $17,072,000 after purchasing an additional 1,778,571 shares in the last quarter. Geode Capital Management LLC boosted its stake in Golden Ocean Group by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,663,334 shares of the shipping company's stock valued at $14,903,000 after purchasing an additional 9,041 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in Golden Ocean Group by 2.1% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,651,405 shares of the shipping company's stock valued at $14,797,000 after purchasing an additional 33,241 shares in the last quarter. Finally, Mirabella Financial Services LLP boosted its stake in Golden Ocean Group by 114.2% during the 4th quarter. Mirabella Financial Services LLP now owns 1,499,244 shares of the shipping company's stock valued at $13,222,000 after purchasing an additional 799,244 shares in the last quarter. Institutional investors and hedge funds own 22.00% of the company's stock.

Golden Ocean Group Stock Up 2.6%

Shares of GOGL traded up $0.21 during mid-day trading on Friday, reaching $8.37. The company's stock had a trading volume of 4,855,907 shares, compared to its average volume of 3,190,543. The business has a fifty day moving average of $7.90 and a 200 day moving average of $8.14. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 14.68 and a beta of 1.09. Golden Ocean Group Limited has a 1 year low of $6.27 and a 1 year high of $13.44. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.66.

Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last announced 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. As a group, 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Thursday, June 5th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Thursday, June 5th. Golden Ocean Group's dividend payout ratio (DPR) is currently 35.09%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GOGL. Jefferies Financial Group reduced their price objective 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. Wall Street Zen began coverage on 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.