Prevail Innovative Wealth Advisors LLC Increases Stock Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Prevail Innovative Wealth Advisors LLC boosted its holdings in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 66.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 294,869 shares of the shipping company's stock after purchasing an additional 117,346 shares during the quarter. Prevail Innovative Wealth Advisors LLC owned about 0.15% of Golden Ocean Group worth $2,353,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOGL. Jones Financial Companies Lllp boosted its holdings 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 worth $25,000 after purchasing an additional 2,391 shares during the last quarter. CWM LLC raised its position in Golden Ocean Group by 330.1% in the first quarter. CWM LLC now owns 3,402 shares of the shipping company's stock worth $27,000 after acquiring an additional 2,611 shares during the period. Sterling Capital Management LLC raised its position in Golden Ocean Group by 830.1% in the fourth quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company's stock worth $35,000 after acquiring an additional 3,478 shares during the period. Quarry LP raised its position in Golden Ocean Group by 195.3% in the fourth quarter. Quarry LP now owns 4,981 shares of the shipping company's stock worth $45,000 after acquiring an additional 3,294 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in Golden Ocean Group by 47.1% in 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 during the period. Hedge funds and other institutional investors own 22.00% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wall Street Zen started coverage on shares of Golden Ocean Group in a research report on Thursday, May 22nd. They set a "hold" rating on the stock. Jefferies Financial Group cut their target price on shares of 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 Trading Down 1.1%

GOGL traded down $0.10 on Friday, reaching $8.26. 3,724,069 shares of the company traded hands, compared to its average volume of 2,394,759. Golden Ocean Group Limited has a one year low of $6.27 and a one year high of $13.50. The firm has a fifty day simple moving average of $7.76 and a two-hundred day simple moving average of $8.20. The company has a market cap of $1.65 billion, a P/E ratio of 14.48 and a beta of 1.05. 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 posted its quarterly earnings data on Wednesday, May 21st. The shipping company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.09). The firm had revenue of $115.00 million for the quarter, compared to the consensus estimate of $106.48 million. Golden Ocean Group had a return on equity of 5.56% and a net margin of 13.16%. As a group, equities research analysts expect that Golden Ocean Group Limited will post 1.14 earnings per share for the current year.

Golden Ocean Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, June 5th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Thursday, June 5th. Golden Ocean Group's dividend payout ratio is presently 35.09%.

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.