SG Americas Securities LLC trimmed its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 65.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,993 shares of the shipping company’s stock after selling 96,833 shares during the quarter. SG Americas Securities LLC’s holdings in Golden Ocean Group were worth $560,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sigma Planning Corp grew its stake in Golden Ocean Group by 14.5% during the 3rd quarter. Sigma Planning Corp now owns 14,953 shares of the shipping company’s stock worth $161,000 after buying an additional 1,897 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in Golden Ocean Group by 74.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 5,829 shares of the shipping company’s stock worth $61,000 after buying an additional 2,484 shares during the last quarter. Atticus Wealth Management LLC bought a new position in Golden Ocean Group during the 3rd quarter worth $27,000. State of Wisconsin Investment Board grew its stake in Golden Ocean Group by 19.4% during the 2nd quarter. State of Wisconsin Investment Board now owns 27,944 shares of the shipping company’s stock worth $309,000 after buying an additional 4,541 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in Golden Ocean Group by 8.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 58,517 shares of the shipping company’s stock worth $646,000 after buying an additional 4,762 shares during the last quarter. 35.74% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research downgraded Golden Ocean Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 5th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $11.88.
Golden Ocean Group (NASDAQ:GOGL) last announced its earnings results on Tuesday, November 23rd. The shipping company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.40. Golden Ocean Group had a return on equity of 20.25% and a net margin of 35.23%. The business had revenue of $387.62 million during the quarter, compared to analysts’ expectations of $251.80 million. During the same quarter last year, the business posted $0.27 earnings per share. On average, equities research analysts predict that Golden Ocean Group Limited will post 2.24 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 16th. Investors of record on Thursday, December 9th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, December 8th. This represents a $3.40 annualized dividend and a yield of 36.48%. This is a boost from Golden Ocean Group’s previous quarterly dividend of $0.50. Golden Ocean Group’s dividend payout ratio (DPR) is currently 187.85%.
Golden Ocean Group Profile
Golden Ocean Group Ltd. engages in the ownership and operation of dry bulk vessels. The firm manages Newcastlemax, Capesize, Panamax, and Ultramax vessels and transports bulk commodities, including ores, coal, grains, and fertilizers. It also involves in the charter, purchase, and sale of vessels. The company was founded on September 18, 1996 and is headquartered in Hamilton, Bermuda.
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