Atria Wealth Solutions Inc. Has $285,000 Stake in Golden Ocean Group Limited (NASDAQ:GOGL)

Atria Wealth Solutions Inc. lowered its stake in Golden Ocean Group Limited (NASDAQ:GOGL) by 24.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,800 shares of the shipping company’s stock after selling 10,300 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Golden Ocean Group were worth $285,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GOGL. Mirabella Financial Services LLP acquired a new stake in shares of Golden Ocean Group in the third quarter valued at about $9,360,000. Assenagon Asset Management S.A. increased its position in shares of Golden Ocean Group by 196.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 961,367 shares of the shipping company’s stock valued at $8,614,000 after acquiring an additional 637,103 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of Golden Ocean Group by 6.9% in the third quarter. Two Sigma Advisers LP now owns 2,751,677 shares of the shipping company’s stock valued at $36,817,000 after acquiring an additional 177,100 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Golden Ocean Group by 32.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 694,290 shares of the shipping company’s stock valued at $9,290,000 after acquiring an additional 168,898 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Golden Ocean Group in the third quarter valued at about $1,543,000. Institutional investors and hedge funds own 22.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GOGL. Jefferies Financial Group reaffirmed a “hold” rating and issued a $10.00 target price on shares of Golden Ocean Group in a research report on Wednesday. Pareto Securities reiterated a “hold” rating and set a $12.50 price target on shares of Golden Ocean Group in a report on Thursday, November 21st.

Golden Ocean Group Trading Down 1.5 %

Golden Ocean Group stock opened at $9.70 on Friday. Golden Ocean Group Limited has a 52 week low of $8.52 and a 52 week high of $15.77. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market capitalization of $1.94 billion, a P/E ratio of 8.02 and a beta of 1.16. The stock has a 50-day simple moving average of $9.18 and a 200 day simple moving average of $10.62.

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

Golden Ocean Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Tuesday, March 11th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date is Tuesday, March 11th. Golden Ocean Group’s payout ratio is currently 99.17%.

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.