SG Americas Securities LLC Buys 129,432 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

SG Americas Securities LLC grew its holdings in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 215.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 189,383 shares of the shipping company's stock after purchasing an additional 129,432 shares during the quarter. SG Americas Securities LLC owned about 0.09% of Golden Ocean Group worth $1,511,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Great Waters Wealth Management acquired a new position in Golden Ocean Group during the 1st quarter worth about $80,000. GAMMA Investing LLC raised its stake in shares of Golden Ocean Group by 373.6% in the first quarter. GAMMA Investing LLC now owns 9,903 shares of the shipping company's stock worth $79,000 after acquiring an additional 7,812 shares during the last quarter. Jefferies Financial Group Inc. raised its stake in shares of Golden Ocean Group by 74.2% in the fourth quarter. Jefferies Financial Group Inc. now owns 34,074 shares of the shipping company's stock worth $305,000 after acquiring an additional 14,518 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Golden Ocean Group by 3.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 119,597 shares of the shipping company's stock worth $1,062,000 after purchasing an additional 4,198 shares in the last quarter. Finally, PharVision Advisers LLC bought a new stake in shares of Golden Ocean Group during the fourth quarter valued at approximately $189,000. Institutional investors own 22.00% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on GOGL shares. Wall Street Zen assumed coverage on shares of Golden Ocean Group in a research report on Thursday, May 22nd. They issued a "hold" rating for the company. Jefferies Financial Group lowered their target price 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.

Golden Ocean Group Trading Down 0.3%

NASDAQ:GOGL traded down $0.02 on Thursday, hitting $7.83. 1,066,482 shares of the stock were exchanged, compared to its average volume of 2,275,509. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.81 and a current ratio of 0.81. Golden Ocean Group Limited has a 52 week low of $6.27 and a 52 week high of $14.29. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 13.74 and a beta of 1.10. The company's 50-day moving average price is $7.59 and its 200 day moving average price is $8.39.

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 the consensus estimate of ($0.10) by ($0.09). The business had revenue of $115.00 million for the quarter, compared to analyst estimates of $106.48 million. Golden Ocean Group had a return on equity of 5.56% and a net margin of 13.16%. On average, equities research analysts forecast that Golden Ocean Group Limited will post 1.14 earnings per share for the current year.

Golden Ocean Group Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, June 5th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.55%. 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.