Allspring Global Investments Holdings LLC Has $269,000 Stake in Golden Ocean Group Limited (NASDAQ:GOGL)

Allspring Global Investments Holdings LLC reduced its position in Golden Ocean Group Limited (NASDAQ:GOGL) by 13.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,986 shares of the shipping company’s stock after selling 4,700 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Golden Ocean Group were worth $269,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOGL. US Bancorp DE increased its holdings in Golden Ocean Group by 1,127.7% in the 3rd quarter. US Bancorp DE now owns 43,632 shares of the shipping company’s stock worth $584,000 after purchasing an additional 40,078 shares in the last quarter. Summit Global Investments bought a new stake in Golden Ocean Group during the 3rd quarter valued at $436,000. Empowered Funds LLC boosted its stake in Golden Ocean Group by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 929,764 shares of the shipping company’s stock valued at $12,440,000 after purchasing an additional 47,302 shares during the last quarter. Jennison Associates LLC purchased a new stake in Golden Ocean Group in the 3rd quarter valued at $744,000. Finally, Intech Investment Management LLC bought a new position in shares of Golden Ocean Group during the third quarter valued at about $477,000. Institutional investors own 22.00% of the company’s stock.

Golden Ocean Group Price Performance

GOGL stock opened at $9.40 on Wednesday. The firm has a market cap of $1.88 billion, a P/E ratio of 7.77 and a beta of 1.16. The firm’s fifty day moving average is $9.12 and its 200 day moving average is $10.65. 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.

Golden Ocean Group (NASDAQ:GOGL) last released its quarterly earnings data on Wednesday, November 27th. The shipping company reported $0.33 earnings per share for the quarter, topping 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%. Research analysts predict that Golden Ocean Group Limited will post 1.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Pareto Securities reaffirmed a “hold” rating and issued a $12.50 price objective on shares of Golden Ocean Group in a research report on Thursday, November 21st. Jefferies Financial Group reduced their price target on shares of Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th.

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.