Two Sigma Advisers LP lessened its position in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 13.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,374,895 shares of the shipping company's stock after selling 376,782 shares during the period. Two Sigma Advisers LP owned approximately 1.19% of Golden Ocean Group worth $21,279,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Golden Ocean Group by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 5,798,672 shares of the shipping company's stock worth $50,978,000 after acquiring an additional 71,918 shares during the period. Encompass Capital Advisors LLC boosted its holdings in Golden Ocean Group by 1,402.3% in the 4th quarter. Encompass Capital Advisors LLC now owns 1,905,407 shares of the shipping company's stock valued at $17,072,000 after purchasing an additional 1,778,571 shares during the period. Geode Capital Management LLC grew its position in shares of Golden Ocean Group by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,663,334 shares of the shipping company's stock worth $14,903,000 after purchasing an additional 9,041 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of Golden Ocean Group by 2.1% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,651,405 shares of the shipping company's stock worth $14,797,000 after purchasing an additional 33,241 shares during the period. Finally, Mirabella Financial Services LLP increased its holdings in shares of Golden Ocean Group by 114.2% during the fourth quarter. Mirabella Financial Services LLP now owns 1,499,244 shares of the shipping company's stock worth $13,222,000 after purchasing an additional 799,244 shares during the period. Institutional investors own 22.00% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on GOGL shares. Jefferies Financial Group cut their price target 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. Wall Street Zen assumed coverage on Golden Ocean Group in a research report on Thursday. They set a "hold" rating for the company.
View Our Latest Analysis on Golden Ocean Group
Golden Ocean Group Price Performance
Golden Ocean Group stock traded up $0.06 during trading hours on Monday, reaching $7.23. 2,322,489 shares of the stock were exchanged, compared to its average volume of 2,247,456. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. Golden Ocean Group Limited has a twelve month low of $6.27 and a twelve month high of $14.82. The company has a market cap of $1.45 billion, a P/E ratio of 5.98 and a beta of 1.06. The stock has a 50 day moving average of $7.58 and a two-hundred day moving average of $8.81.
Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The shipping company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates 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 13.14% and a net margin of 23.89%. Equities analysts expect that Golden Ocean Group Limited will post 1.14 EPS for the current fiscal year.
Golden Ocean Group Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 8.30%. The ex-dividend date was Tuesday, March 11th. Golden Ocean Group's dividend payout ratio (DPR) is presently 35.09%.
Golden Ocean Group 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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