Golden Ocean Group Limited (NASDAQ:GOGL) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP lessened its holdings in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 23.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,369,826 shares of the shipping company's stock after selling 430,615 shares during the quarter. Two Sigma Investments LP owned 0.68% of Golden Ocean Group worth $12,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Encompass Capital Advisors LLC increased its stake in shares of Golden Ocean Group by 1,402.3% in the fourth quarter. Encompass Capital Advisors LLC now owns 1,905,407 shares of the shipping company's stock worth $17,072,000 after purchasing an additional 1,778,571 shares in the last quarter. Mirabella Financial Services LLP raised its position in shares of Golden Ocean Group by 114.2% during the 4th quarter. Mirabella Financial Services LLP now owns 1,499,244 shares of the shipping company's stock valued at $13,222,000 after buying an additional 799,244 shares in the last quarter. Bank of New York Mellon Corp raised its position in Golden Ocean Group by 229.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,139,248 shares of the shipping company's stock valued at $10,208,000 after purchasing an additional 793,470 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Golden Ocean Group by 2,893.9% in the fourth quarter. Victory Capital Management Inc. now owns 414,121 shares of the shipping company's stock worth $3,711,000 after buying an additional 400,289 shares in the last quarter. Finally, Praetorian PR LLC bought a new position in shares of Golden Ocean Group during the 4th quarter valued at $2,688,000. Institutional investors own 22.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Jefferies Financial Group lowered their price target 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. Wall Street Zen assumed coverage on shares of Golden Ocean Group in a research report on Thursday, May 22nd. They set a "hold" rating on the stock.

Golden Ocean Group Stock Performance

Golden Ocean Group stock traded down $0.11 during trading on Wednesday, reaching $7.18. The company had a trading volume of 1,760,052 shares, compared to its average volume of 2,246,020. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 5.93 and a beta of 1.06. 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 firm's 50-day simple moving average is $7.56 and its 200 day simple moving average is $8.77. Golden Ocean Group Limited has a 52 week low of $6.27 and a 52 week high of $14.82.

Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last posted 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). Golden Ocean Group had a net margin of 23.89% and a return on equity of 13.14%. The business had revenue of $115.00 million for the quarter, compared to the consensus estimate of $106.48 million. Sell-side analysts forecast that Golden Ocean Group Limited will post 1.14 earnings per share for the current fiscal year.

Golden Ocean Group Profile

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.