UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 41,024 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 32.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 83,550 shares of the shipping company's stock after selling 41,024 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in Golden Ocean Group were worth $749,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOGL. Jones Financial Companies Lllp raised its stake in shares of Golden Ocean Group by 683.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company's stock worth $25,000 after purchasing an additional 2,391 shares in the last quarter. Sterling Capital Management LLC lifted its stake in Golden Ocean Group by 830.1% in 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 increased its holdings in shares of 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 acquiring an additional 3,294 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Golden Ocean Group during the fourth quarter worth $46,000. Finally, Tower Research Capital LLC TRC grew its stake in Golden Ocean Group by 47.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,294 shares of the shipping company's stock valued at $47,000 after purchasing an additional 1,694 shares during the period. 22.00% of the stock is owned by institutional investors.

Golden Ocean Group Stock Performance

GOGL stock traded up $0.06 during midday trading on Friday, reaching $7.96. The stock had a trading volume of 1,700,087 shares, compared to its average volume of 2,277,023. The firm has a fifty day simple moving average of $7.54 and a two-hundred day simple moving average of $8.44. The stock has a market cap of $1.59 billion, a PE ratio of 6.58 and a beta of 1.10. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22. Golden Ocean Group Limited has a 52-week low of $6.27 and a 52-week high of $14.29.

Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last announced its earnings results on Wednesday, May 21st. The shipping company reported ($0.19) earnings per share (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 firm had revenue of $115.00 million during the quarter, compared to analysts' expectations of $106.48 million. As a group, equities research analysts anticipate that Golden Ocean Group Limited will post 1.14 EPS for the current year.

Golden Ocean Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders 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 yield of 2.51%. 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

GOGL has been the topic of several recent research reports. Jefferies Financial Group reduced their price objective 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. Wall Street Zen initiated coverage on Golden Ocean Group in a report on Thursday, May 22nd. They set a "hold" rating for the company.

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.