Quadrature Capital Ltd Acquires New Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Quadrature Capital Ltd bought a new position in shares of Golden Ocean Group Limited (NASDAQ:GOGL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,466 shares of the shipping company’s stock, valued at approximately $171,000.

Several other hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its holdings in Golden Ocean Group by 19.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 995,849 shares of the shipping company’s stock valued at $7,847,000 after acquiring an additional 163,735 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Golden Ocean Group by 44.9% in the third quarter. Hsbc Holdings PLC now owns 341,911 shares of the shipping company’s stock valued at $2,697,000 after purchasing an additional 105,879 shares during the period. Axxcess Wealth Management LLC boosted its holdings in Golden Ocean Group by 133.6% during the third quarter. Axxcess Wealth Management LLC now owns 29,174 shares of the shipping company’s stock worth $230,000 after buying an additional 16,684 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Golden Ocean Group in the third quarter valued at about $1,042,000. Finally, BDL Capital Management acquired a new stake in shares of Golden Ocean Group during the 4th quarter valued at approximately $930,000. 22.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GOGL. Jefferies Financial Group downgraded shares of Golden Ocean Group from a “buy” rating to a “hold” rating and set a $15.50 target price for the company. in a report on Wednesday, May 22nd. StockNews.com raised shares of Golden Ocean Group from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd.

Golden Ocean Group Stock Up 1.2 %

Golden Ocean Group stock opened at $13.89 on Friday. The company has a 50-day simple moving average of $14.06 and a 200-day simple moving average of $12.28. The firm has a market capitalization of $2.77 billion, a P/E ratio of 14.94 and a beta of 1.23. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.25 and a current ratio of 1.25. Golden Ocean Group Limited has a one year low of $6.89 and a one year high of $15.77.

Golden Ocean Group (NASDAQ:GOGL) last posted its quarterly earnings data on Wednesday, May 22nd. The shipping company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.06. Golden Ocean Group had a net margin of 19.92% and a return on equity of 8.67%. The company had revenue of $196.70 million during the quarter. As a group, equities analysts expect that Golden Ocean Group Limited will post 1.43 earnings per share for the current year.

Golden Ocean Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, June 7th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.20 annualized dividend and a dividend yield of 8.64%. Golden Ocean Group’s dividend payout ratio (DPR) is presently 129.03%.

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.