Cambridge Investment Research Advisors Inc. Cuts Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Cambridge Investment Research Advisors Inc. trimmed its position in shares of Golden Ocean Group Limited (NASDAQ:GOGLGet Rating) by 20.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,648 shares of the shipping company’s stock after selling 4,675 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Golden Ocean Group were worth $132,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. DAVENPORT & Co LLC increased its stake in shares of Golden Ocean Group by 11.4% during the second quarter. DAVENPORT & Co LLC now owns 12,287 shares of the shipping company’s stock worth $143,000 after buying an additional 1,262 shares during the period. Legal & General Group Plc purchased a new stake in shares of Golden Ocean Group during the second quarter worth approximately $27,000. Onyx Bridge Wealth Group LLC increased its stake in Golden Ocean Group by 23.3% in the second quarter. Onyx Bridge Wealth Group LLC now owns 17,768 shares of the shipping company’s stock valued at $192,000 after purchasing an additional 3,353 shares during the last quarter. Advisor Group Holdings Inc. increased its stake in Golden Ocean Group by 27.0% in the first quarter. Advisor Group Holdings Inc. now owns 18,645 shares of the shipping company’s stock valued at $190,000 after purchasing an additional 3,969 shares during the last quarter. Finally, Cetera Advisor Networks LLC increased its stake in Golden Ocean Group by 42.0% in the first quarter. Cetera Advisor Networks LLC now owns 14,596 shares of the shipping company’s stock valued at $181,000 after purchasing an additional 4,318 shares during the last quarter. 37.16% of the stock is currently owned by hedge funds and other institutional investors.

Golden Ocean Group Price Performance

GOGL stock opened at $9.06 on Tuesday. The company has a market capitalization of $1.30 billion, a P/E ratio of 3.06 and a beta of 1.29. Golden Ocean Group Limited has a twelve month low of $7.24 and a twelve month high of $16.46. The business has a 50 day simple moving average of $8.75 and a 200-day simple moving average of $9.31. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.60.

Golden Ocean Group (NASDAQ:GOGLGet Rating) last posted its quarterly earnings data on Wednesday, November 16th. The shipping company reported $0.52 earnings per share for the quarter. The business had revenue of $195.59 million during the quarter, compared to the consensus estimate of $181.50 million. Golden Ocean Group had a return on equity of 29.95% and a net margin of 47.96%. As a group, equities analysts anticipate that Golden Ocean Group Limited will post 1.85 EPS for the current year.

Golden Ocean Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 5th. Investors of record on Monday, November 28th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 15.45%. The ex-dividend date of this dividend was Friday, November 25th. Golden Ocean Group’s dividend payout ratio is presently 47.30%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GOGL shares. Jefferies Financial Group lowered shares of Golden Ocean Group from a “buy” rating to a “hold” rating and dropped their price target for the company from $14.00 to $10.00 in a research note on Monday, September 26th. StockNews.com started coverage on shares of Golden Ocean Group in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock.

Golden Ocean Group Company Profile

(Get Rating)

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels comprising Newcastlemax, Capesize, Panamax, and Ultramax vessels worldwide. It owns and operates dry bulk vessels in the spot and time charter markets. The company transports bulk commodities, such as ores, coal, grains, and fertilizers.

Further Reading

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Institutional Ownership by Quarter for Golden Ocean Group (NASDAQ:GOGL)

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