Atria Wealth Solutions Inc. Lowers Stock Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Atria Wealth Solutions Inc. lessened its stake in Golden Ocean Group Limited (NASDAQ:GOGL) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,200 shares of the shipping company’s stock after selling 3,000 shares during the period. Atria Wealth Solutions Inc.’s holdings in Golden Ocean Group were worth $490,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. purchased a new position in Golden Ocean Group in the fourth quarter worth $53,000. Vanguard Personalized Indexing Management LLC increased its position in shares of Golden Ocean Group by 39.9% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 16,405 shares of the shipping company’s stock valued at $129,000 after purchasing an additional 4,678 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Golden Ocean Group by 64.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 17,626 shares of the shipping company’s stock valued at $139,000 after buying an additional 6,884 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Golden Ocean Group by 39.3% during the 3rd quarter. Principal Financial Group Inc. now owns 18,219 shares of the shipping company’s stock valued at $144,000 after buying an additional 5,142 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its position in Golden Ocean Group by 133.6% in the 3rd quarter. Axxcess Wealth Management LLC now owns 29,174 shares of the shipping company’s stock worth $230,000 after buying an additional 16,684 shares during the last quarter. Institutional investors own 22.00% of the company’s stock.

Golden Ocean Group Price Performance

GOGL opened at $14.79 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 1.05. Golden Ocean Group Limited has a 1 year low of $6.89 and a 1 year high of $14.81. The stock’s 50 day simple moving average is $13.13 and its 200 day simple moving average is $10.69. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 26.41 and a beta of 1.32.

Golden Ocean Group (NASDAQ:GOGL) last issued its earnings results on Wednesday, February 28th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.07. The firm had revenue of $196.75 million for the quarter, compared to analysts’ expectations of $187.19 million. Golden Ocean Group had a net margin of 12.68% and a return on equity of 5.91%. As a group, analysts predict that Golden Ocean Group Limited will post 1.52 earnings per share for the current year.

Golden Ocean Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Wednesday, March 13th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 8.11%. This is an increase from Golden Ocean Group’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, March 12th. Golden Ocean Group’s dividend payout ratio is 214.29%.

Analyst Ratings Changes

GOGL has been the topic of several research reports. StockNews.com raised shares of Golden Ocean Group from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. Jefferies Financial Group reaffirmed a “buy” rating and set a $15.00 target price on shares of Golden Ocean Group in a report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $12.50.

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.