Millennium Management LLC trimmed its stake in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 63.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,303 shares of the shipping company's stock after selling 101,411 shares during the quarter. Millennium Management LLC's holdings in Golden Ocean Group were worth $522,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of GOGL. Jones Financial Companies Lllp increased its holdings in shares of 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 purchasing an additional 2,391 shares during the last quarter. Sterling Capital Management LLC increased its stake in shares of Golden Ocean Group by 830.1% during the fourth quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company's stock worth $35,000 after purchasing an additional 3,478 shares during the period. Quarry LP increased its stake in shares of Golden Ocean Group by 195.3% during the fourth 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 period. SBI Securities Co. Ltd. bought a new position in shares of Golden Ocean Group during the fourth quarter worth approximately $46,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of 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 purchasing an additional 1,694 shares during the period. 22.00% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on GOGL shares. Jefferies Financial Group lowered their target price on 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. Wall Street Zen initiated coverage on shares of Golden Ocean Group in a report on Thursday, May 22nd. They issued a "hold" rating for the company.
Check Out Our Latest Stock Analysis on Golden Ocean Group
Golden Ocean Group Price Performance
Golden Ocean Group stock opened at $7.70 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. Golden Ocean Group Limited has a one year low of $6.27 and a one year high of $14.29. The firm has a market cap of $1.54 billion, a PE ratio of 6.36 and a beta of 1.10. The stock's fifty day moving average price is $7.49 and its two-hundred day moving average price is $8.51.
Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last issued 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 return on equity of 13.14% and a net margin of 23.89%. The company had revenue of $115.00 million during the quarter, compared to the consensus estimate of $106.48 million. As a group, 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 announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, June 5th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Thursday, June 5th. Golden Ocean Group's dividend payout ratio is presently 35.09%.
Golden Ocean Group Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding GOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Golden Ocean Group Limited (NASDAQ:GOGL - Free Report).
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