Swiss National Bank Sells 31,425 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Swiss National Bank cut its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 10.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 257,034 shares of the shipping company’s stock after selling 31,425 shares during the period. Swiss National Bank owned 0.13% of Golden Ocean Group worth $2,497,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New York State Common Retirement Fund boosted its stake in Golden Ocean Group by 557.4% in the third quarter. New York State Common Retirement Fund now owns 249,523 shares of the shipping company’s stock valued at $1,966,000 after acquiring an additional 211,567 shares in the last quarter. Barclays PLC boosted its stake in Golden Ocean Group by 45.2% in the third quarter. Barclays PLC now owns 546,432 shares of the shipping company’s stock valued at $4,307,000 after acquiring an additional 170,193 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Golden Ocean Group by 19.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 995,849 shares of the shipping company’s stock valued at $7,847,000 after acquiring an additional 163,735 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Golden Ocean Group in the third quarter worth $1,042,000. Finally, Hosking Partners LLP raised its holdings in shares of Golden Ocean Group by 20.1% in the third quarter. Hosking Partners LLP now owns 707,321 shares of the shipping company’s stock worth $5,574,000 after buying an additional 118,173 shares during the last quarter. 22.00% of the stock is currently owned by institutional investors.

Golden Ocean Group Stock Down 0.8 %

GOGL opened at $14.04 on Friday. Golden Ocean Group Limited has a twelve month low of $6.89 and a twelve month high of $15.77. The company has a quick ratio of 1.05, a current ratio of 1.23 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average price of $13.65 and a 200 day moving average price of $11.35. The company has a market cap of $2.80 billion, a PE ratio of 25.07 and a beta of 1.32.

Golden Ocean Group (NASDAQ:GOGL) last announced its quarterly earnings data on Wednesday, February 28th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.07. Golden Ocean Group had a net margin of 12.68% and a return on equity of 5.91%. The company had revenue of $196.75 million during the quarter, compared to analysts’ expectations of $187.19 million. Sell-side analysts expect that Golden Ocean Group Limited will post 1.52 earnings per share for the current fiscal year.

Golden Ocean Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, June 7th will be paid a $0.30 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.20 annualized dividend and a dividend yield of 8.55%. Golden Ocean Group’s dividend payout ratio (DPR) is 214.29%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. StockNews.com raised shares of Golden Ocean Group from a “sell” rating to a “hold” rating in a report on Thursday. Jefferies Financial Group cut shares of Golden Ocean Group from a “buy” rating to a “hold” rating and set a $15.50 price target for the company. in a report on Wednesday.

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.