Voloridge Investment Management LLC Raises Stock Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Voloridge Investment Management LLC raised its stake in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 6.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,495,472 shares of the shipping company's stock after purchasing an additional 95,164 shares during the quarter. Voloridge Investment Management LLC owned 0.75% of Golden Ocean Group worth $13,399,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of GOGL. MetLife Investment Management LLC boosted its holdings in shares of Golden Ocean Group by 1.7% in the fourth quarter. MetLife Investment Management LLC now owns 71,533 shares of the shipping company's stock worth $641,000 after acquiring an additional 1,201 shares during the period. State of Wyoming increased its holdings in shares of Golden Ocean Group by 10.3% in the fourth quarter. State of Wyoming now owns 13,596 shares of the shipping company's stock worth $122,000 after buying an additional 1,268 shares during the period. Swiss National Bank increased its holdings in shares of Golden Ocean Group by 0.6% in the fourth quarter. Swiss National Bank now owns 257,524 shares of the shipping company's stock worth $2,259,000 after buying an additional 1,658 shares during the period. Tower Research Capital LLC TRC increased its holdings 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 buying an additional 1,694 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of 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 worth $965,000 after buying an additional 2,078 shares during the period. 22.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GOGL has been the topic of several research reports. Wall Street Zen began coverage on Golden Ocean Group in a research report on Thursday, May 22nd. They set a "hold" rating on the stock. Jefferies Financial Group lowered 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.

Golden Ocean Group Price Performance

Golden Ocean Group stock traded up $0.28 during mid-day trading on Thursday, hitting $7.45. The stock had a trading volume of 1,562,706 shares, compared to its average volume of 2,245,965. The firm's 50 day moving average is $7.55 and its 200 day moving average is $8.76. 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 capitalization of $1.49 billion, a P/E ratio of 6.15 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.

Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last announced 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 during the quarter, compared to the consensus estimate of $106.48 million. On average, sell-side analysts forecast that Golden Ocean Group Limited will post 1.14 earnings per share for the current fiscal year.

Golden Ocean Group Cuts Dividend

The firm also recently disclosed a 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. The ex-dividend date of this dividend is Thursday, June 5th. Golden Ocean Group's payout ratio is 35.09%.

Golden Ocean Group Company 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.