Two Sigma Investments LP trimmed its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 23.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,369,826 shares of the shipping company's stock after selling 430,615 shares during the period. Two Sigma Investments LP owned about 0.68% of Golden Ocean Group worth $12,274,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp raised its position in Golden Ocean Group by 683.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company's stock valued at $25,000 after buying an additional 2,391 shares during the period. Sterling Capital Management LLC raised its position in Golden Ocean Group by 830.1% during the fourth quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company's stock valued at $35,000 after buying an additional 3,478 shares during the period. Quarry LP raised its position in Golden Ocean Group by 195.3% during the fourth quarter. Quarry LP now owns 4,981 shares of the shipping company's stock valued at $45,000 after buying an additional 3,294 shares during the period. SBI Securities Co. Ltd. acquired a new position in Golden Ocean Group during the fourth quarter valued at $46,000. Finally, Tower Research Capital LLC TRC raised its position in Golden Ocean Group by 47.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,294 shares of the shipping company's stock valued at $47,000 after buying an additional 1,694 shares during the period. 22.00% of the stock is owned by hedge funds and other institutional investors.
Golden Ocean Group Stock Performance
Shares of GOGL stock traded up $0.31 during mid-day trading on Thursday, reaching $7.48. The stock had a trading volume of 1,457,609 shares, compared to its average volume of 2,245,403. The firm's 50 day simple moving average is $7.55 and its 200 day simple moving average is $8.76. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.65. Golden Ocean Group Limited has a one year low of $6.27 and a one year high of $14.64. The firm has a market cap of $1.50 billion, a PE ratio of 6.16 and a beta of 1.06.
Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $115.00 million during 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%. On average, analysts forecast that Golden Ocean Group Limited will post 1.14 EPS for the current year.
Golden Ocean Group Cuts Dividend
The business also recently announced a dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, June 5th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, June 5th. Golden Ocean Group's dividend payout ratio (DPR) is presently 35.09%.
Analyst Ratings Changes
Several brokerages have weighed in on GOGL. Wall Street Zen began coverage on Golden Ocean Group in a research report on Thursday, May 22nd. They issued a "hold" rating on the stock. 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 report on Wednesday, April 23rd.
Read Our Latest Stock Analysis on GOGL
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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