Northern Trust Corp Purchases 84,645 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Northern Trust Corp increased its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 947,740 shares of the shipping company's stock after purchasing an additional 84,645 shares during the quarter. Northern Trust Corp owned 0.47% of Golden Ocean Group worth $8,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Jones Financial Companies Lllp raised its stake 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 worth $25,000 after buying an additional 2,391 shares during the period. Sterling Capital Management LLC boosted its holdings in Golden Ocean Group by 830.1% during 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 during the period. Quarry LP boosted its holdings in 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. purchased a new position in Golden Ocean Group during the 4th quarter valued at $46,000. Finally, Tower Research Capital LLC TRC raised 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 valued at $47,000 after purchasing an additional 1,694 shares in the last quarter. 22.00% of the stock is owned by institutional investors.

Golden Ocean Group Trading Up 0.8%

Shares of GOGL traded up $0.06 during midday trading on Friday, hitting $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 52-week low of $6.27 and a 52-week high of $14.82. The stock has a fifty day simple moving average of $7.58 and a 200 day simple moving average of $8.84. The firm has a market cap of $1.45 billion, a P/E ratio of 5.98 and a beta of 1.06. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22.

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

Golden Ocean Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, March 11th. This represents a $0.60 annualized dividend and a dividend yield of 8.30%. Golden Ocean Group's dividend payout ratio is currently 53.57%.

Analysts Set New Price Targets

Several research analysts recently weighed in on GOGL shares. Jefferies Financial Group dropped 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 started coverage on Golden Ocean Group in a research note on Thursday. They issued a "hold" rating on the stock.

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.