SG Americas Securities LLC Trims Stake in Golden Ocean Group Limited (NASDAQ:GOGL)

SG Americas Securities LLC lessened its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGLGet Rating) by 48.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,366 shares of the shipping company’s stock after selling 64,588 shares during the quarter. SG Americas Securities LLC’s holdings in Golden Ocean Group were worth $503,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of GOGL. Advisor Group Holdings Inc. boosted its position in Golden Ocean Group by 27.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 18,645 shares of the shipping company’s stock valued at $190,000 after acquiring an additional 3,969 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Golden Ocean Group by 139.9% during the 1st quarter. JPMorgan Chase & Co. now owns 670,187 shares of the shipping company’s stock valued at $8,296,000 after acquiring an additional 390,850 shares in the last quarter. Raymond James & Associates boosted its position in Golden Ocean Group by 90.1% during the 1st quarter. Raymond James & Associates now owns 25,379 shares of the shipping company’s stock valued at $314,000 after acquiring an additional 12,026 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Golden Ocean Group by 13.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 20,736 shares of the shipping company’s stock valued at $257,000 after acquiring an additional 2,479 shares in the last quarter. Finally, HighTower Advisors LLC bought a new stake in Golden Ocean Group during the 1st quarter valued at $197,000. Institutional investors own 37.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Golden Ocean Group in a research report on Wednesday, October 12th. They set a “hold” rating on the stock.

Golden Ocean Group Stock Down 2.8 %

Golden Ocean Group stock opened at $9.07 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 3.06 and a beta of 1.29. Golden Ocean Group Limited has a 1-year low of $7.24 and a 1-year high of $16.46. The business has a fifty day moving average price of $8.73 and a 200-day moving average price of $9.26.

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 firm had revenue of $195.59 million during the quarter, compared to analysts’ expectations of $181.50 million. Golden Ocean Group had a return on equity of 29.95% and a net margin of 47.96%. Equities research analysts forecast that Golden Ocean Group Limited will post 1.85 EPS for the current fiscal year.

Golden Ocean Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 5th. Investors of record on Monday, November 28th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, November 25th. This represents a $1.40 dividend on an annualized basis and a yield of 15.44%. Golden Ocean Group’s dividend payout ratio (DPR) is 47.30%.

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.

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

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