Bfsg LLC Trims Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Bfsg LLC lowered its holdings in Golden Ocean Group Limited (NASDAQ:GOGL) by 20.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,000 shares of the shipping company’s stock after selling 5,000 shares during the period. Bfsg LLC’s holdings in Golden Ocean Group were worth $268,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Golden Ocean Group by 273.9% in the 1st quarter. Vanguard Group Inc. now owns 5,190,885 shares of the shipping company’s stock valued at $67,274,000 after buying an additional 3,802,652 shares during the period. Bridgeway Capital Management LLC boosted its position in shares of Golden Ocean Group by 15.7% in the first quarter. Bridgeway Capital Management LLC now owns 1,557,322 shares of the shipping company’s stock worth $20,183,000 after acquiring an additional 211,629 shares during the last quarter. Marshall Wace LLP grew its holdings in Golden Ocean Group by 96.9% in the second quarter. Marshall Wace LLP now owns 1,557,288 shares of the shipping company’s stock valued at $21,491,000 after purchasing an additional 766,436 shares during the period. Assenagon Asset Management S.A. increased its position in Golden Ocean Group by 1,372.9% during the second quarter. Assenagon Asset Management S.A. now owns 1,260,278 shares of the shipping company’s stock worth $17,392,000 after purchasing an additional 1,174,716 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in Golden Ocean Group by 55.5% during the second quarter. Hsbc Holdings PLC now owns 1,169,814 shares of the shipping company’s stock worth $16,219,000 after purchasing an additional 417,539 shares during the last quarter. 22.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Jefferies Financial Group lowered their price objective on shares of Golden Ocean Group from $15.50 to $14.50 and set a “hold” rating for the company in a research note on Wednesday, August 28th. StockNews.com downgraded Golden Ocean Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 5th.

Golden Ocean Group Trading Up 0.4 %

NASDAQ GOGL opened at $11.33 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.00 and a current ratio of 1.17. Golden Ocean Group Limited has a one year low of $7.09 and a one year high of $15.77. The company’s 50 day moving average price is $12.17 and its 200 day moving average price is $13.06. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 10.59 and a beta of 1.17.

Golden Ocean Group (NASDAQ:GOGL) last posted its earnings results on Wednesday, August 28th. The shipping company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.04. Golden Ocean Group had a net margin of 22.01% and a return on equity of 10.57%. The business had revenue of $197.35 million for the quarter, compared to analyst estimates of $187.74 million. On average, sell-side analysts predict that Golden Ocean Group Limited will post 1.35 EPS for the current year.

Golden Ocean Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Wednesday, September 11th were paid a $0.30 dividend. The ex-dividend date was Wednesday, September 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.59%. Golden Ocean Group’s dividend payout ratio (DPR) is currently 112.15%.

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.