SG Americas Securities LLC Has $537,000 Holdings in Golden Ocean Group Limited (NASDAQ:GOGL)

SG Americas Securities LLC raised its holdings in Golden Ocean Group Limited (NASDAQ:GOGL) by 26.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 59,951 shares of the shipping company’s stock after buying an additional 12,647 shares during the period. SG Americas Securities LLC’s holdings in Golden Ocean Group were worth $537,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its position in Golden Ocean Group by 3.1% during the second quarter. The Manufacturers Life Insurance Company now owns 43,840 shares of the shipping company’s stock worth $605,000 after acquiring an additional 1,300 shares in the last quarter. Onyx Bridge Wealth Group LLC increased its stake in shares of Golden Ocean Group by 6.4% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 31,776 shares of the shipping company’s stock worth $425,000 after purchasing an additional 1,917 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Golden Ocean Group during the 3rd quarter worth about $28,000. Sei Investments Co. raised its holdings in shares of Golden Ocean Group by 4.1% in the 2nd quarter. Sei Investments Co. now owns 54,404 shares of the shipping company’s stock valued at $751,000 after purchasing an additional 2,144 shares during the period. Finally, Custom Index Systems LLC lifted its stake in Golden Ocean Group by 11.9% in the 3rd quarter. Custom Index Systems LLC now owns 28,389 shares of the shipping company’s stock valued at $380,000 after purchasing an additional 3,026 shares during the last quarter. 22.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Pareto Securities reissued a “hold” rating and set a $12.50 price target on shares of Golden Ocean Group in a research report on Thursday, November 21st. Jefferies Financial Group decreased their target price on Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Finally, StockNews.com cut Golden Ocean Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th.

Golden Ocean Group Stock Down 0.1 %

Shares of GOGL opened at $9.25 on Friday. The firm has a market cap of $1.85 billion, a P/E ratio of 7.64 and a beta of 1.18. 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 $8.52 and a 52 week high of $15.77. The firm’s 50-day simple moving average is $9.29 and its 200 day simple moving average is $11.07.

Golden Ocean Group (NASDAQ:GOGL) last posted its earnings results on Wednesday, November 27th. The shipping company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. Golden Ocean Group had a return on equity of 13.14% and a net margin of 23.89%. On average, analysts forecast that Golden Ocean Group Limited will post 1.14 earnings per share for the current year.

Golden Ocean Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 9th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 12.97%. The ex-dividend date was Monday, December 9th. Golden Ocean Group’s payout ratio is 99.17%.

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.