Squarepoint Ops LLC increased its position in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 155.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,864 shares of the shipping company's stock after acquiring an additional 34,636 shares during the quarter. Squarepoint Ops LLC's holdings in Golden Ocean Group were worth $510,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. MetLife Investment Management LLC grew its position in Golden Ocean Group by 1.7% during the fourth quarter. MetLife Investment Management LLC now owns 71,533 shares of the shipping company's stock worth $641,000 after buying an additional 1,201 shares in the last quarter. State of Wyoming grew its holdings in shares of Golden Ocean Group by 10.3% during the fourth quarter. State of Wyoming now owns 13,596 shares of the shipping company's stock worth $122,000 after purchasing an additional 1,268 shares in the last quarter. Swiss National Bank grew its holdings in shares of Golden Ocean Group by 0.6% during the fourth quarter. Swiss National Bank now owns 257,524 shares of the shipping company's stock worth $2,259,000 after purchasing an additional 1,658 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of 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 purchasing an additional 1,694 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Golden Ocean Group by 2.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,525 shares of the shipping company's stock valued at $965,000 after purchasing an additional 2,078 shares in the last quarter. 22.00% of the stock is currently owned by institutional investors.
Golden Ocean Group Price Performance
Shares of GOGL traded down $0.04 during midday trading on Friday, reaching $7.70. The stock had a trading volume of 1,381,932 shares, compared to its average volume of 2,285,652. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 6.36 and a beta of 1.10. The company's 50-day moving average is $7.49 and its 200 day moving average is $8.51. Golden Ocean Group Limited has a 12-month low of $6.27 and a 12-month high of $14.29.
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). The business had revenue of $115.00 million for the quarter, compared to the consensus estimate of $106.48 million. Golden Ocean Group had a net margin of 23.89% and a return on equity of 13.14%. On average, equities analysts predict 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. Investors of record on Thursday, June 5th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, June 5th. Golden Ocean Group's dividend payout ratio is currently 35.09%.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. Wall Street Zen started coverage on shares of Golden Ocean Group in a research note on Thursday, May 22nd. They issued a "hold" rating for the company. Jefferies Financial Group dropped their price objective on shares of Golden Ocean Group from $10.00 to $8.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd.
Check Out Our Latest Research Report on GOGL
Golden Ocean Group Company Profile
(
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.
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