Hsbc Holdings PLC Buys 417,539 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Hsbc Holdings PLC increased its stake in Golden Ocean Group Limited (NASDAQ:GOGL) by 55.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,169,814 shares of the shipping company’s stock after purchasing an additional 417,539 shares during the period. Hsbc Holdings PLC owned approximately 0.59% of Golden Ocean Group worth $16,219,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC increased its holdings in Golden Ocean Group by 1,720.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,804 shares of the shipping company’s stock valued at $52,000 after buying an additional 3,595 shares during the period. Fifth Lane Capital LP acquired a new stake in shares of Golden Ocean Group during the 1st quarter worth approximately $137,000. Lazard Asset Management LLC bought a new position in Golden Ocean Group in the first quarter valued at approximately $149,000. Bayesian Capital Management LP acquired a new position in Golden Ocean Group during the first quarter valued at approximately $151,000. Finally, Quadrature Capital Ltd bought a new stake in Golden Ocean Group during the fourth quarter worth $171,000. Institutional investors and hedge funds own 22.00% of the company’s stock.

Golden Ocean Group Stock Performance

Shares of Golden Ocean Group stock opened at $12.18 on Monday. The company’s 50 day moving average price is $12.16 and its two-hundred day moving average price is $13.12. The firm has a market capitalization of $2.43 billion, a P/E ratio of 13.10 and a beta of 1.16. Golden Ocean Group Limited has a fifty-two week low of $7.09 and a fifty-two week high of $15.77. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 1.00.

Golden Ocean Group (NASDAQ:GOGL) last issued its quarterly earnings data on Wednesday, August 28th. The shipping company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The business had revenue of $197.35 million for the quarter, compared to analyst estimates of $187.74 million. Golden Ocean Group had a return on equity of 10.57% and a net margin of 22.01%. On average, equities analysts forecast that Golden Ocean Group Limited will post 1.35 earnings per share for the current fiscal year.

Golden Ocean Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Wednesday, September 11th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 9.85%. The ex-dividend date of this dividend was Wednesday, September 11th. Golden Ocean Group’s dividend payout ratio is currently 129.03%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GOGL shares. Jefferies Financial Group decreased their price target on Golden Ocean Group from $15.50 to $14.50 and set a “hold” rating on the stock in a research note on Wednesday, August 28th. StockNews.com upgraded Golden Ocean Group from a “sell” rating to a “hold” rating in a research report on Friday, August 30th.

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.