Golden Ocean Group Limited (NASDAQ:GOGL) Stake Decreased by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise lowered its holdings in Golden Ocean Group Limited (NASDAQ:GOGLFree Report) by 43.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,924 shares of the shipping company’s stock after selling 6,820 shares during the period. Banque Cantonale Vaudoise’s holdings in Golden Ocean Group were worth $70,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Legal & General Group Plc purchased a new stake in shares of Golden Ocean Group in the second quarter valued at $27,000. State of Wyoming lifted its holdings in shares of Golden Ocean Group by 52.8% in the fourth quarter. State of Wyoming now owns 3,517 shares of the shipping company’s stock valued at $31,000 after purchasing an additional 1,215 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new stake in shares of Golden Ocean Group in the second quarter valued at $31,000. Prelude Capital Management LLC purchased a new stake in shares of Golden Ocean Group in the third quarter valued at $78,000. Finally, Mirabella Financial Services LLP purchased a new stake in shares of Golden Ocean Group in the first quarter valued at $131,000. Hedge funds and other institutional investors own 19.98% of the company’s stock.

Golden Ocean Group Trading Up 0.9 %

NASDAQ GOGL opened at $11.14 on Friday. Golden Ocean Group Limited has a 1-year low of $6.89 and a 1-year high of $11.24. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $2.23 billion, a PE ratio of 18.26 and a beta of 1.35. The firm’s fifty day simple moving average is $9.87 and its 200-day simple moving average is $8.48.

Golden Ocean Group (NASDAQ:GOGLGet Free Report) last posted its earnings results on Tuesday, November 21st. The shipping company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.04 by $0.04. The firm had revenue of $156.58 million for the quarter, compared to the consensus estimate of $140.08 million. Golden Ocean Group had a net margin of 13.96% and a return on equity of 5.55%. As a group, sell-side analysts anticipate that Golden Ocean Group Limited will post 0.47 earnings per share for the current fiscal year.

Golden Ocean Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 13th. Shareholders of record on Wednesday, December 6th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.59%. The ex-dividend date was Tuesday, December 5th. Golden Ocean Group’s payout ratio is 65.57%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Jefferies Financial Group upgraded Golden Ocean Group from a “hold” rating to a “buy” rating and increased their target price for the company from $8.00 to $11.00 in a report on Tuesday, October 24th. BTIG Research reaffirmed a “neutral” rating on shares of Golden Ocean Group in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Golden Ocean Group presently has a consensus rating of “Hold” and an average price target of $10.50.

Check Out Our Latest Stock Analysis on GOGL

About Golden Ocean Group

(Free Report)

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

See Also

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

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