Denali Advisors LLC Sells 82,300 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Denali Advisors LLC lessened its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 17.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 390,558 shares of the shipping company’s stock after selling 82,300 shares during the period. Golden Ocean Group makes up about 1.5% of Denali Advisors LLC’s portfolio, making the stock its 16th biggest position. Denali Advisors LLC’s holdings in Golden Ocean Group were worth $5,062,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its position in Golden Ocean Group by 184.9% during the 4th quarter. Russell Investments Group Ltd. now owns 108,374 shares of the shipping company’s stock worth $1,058,000 after purchasing an additional 70,341 shares during the last quarter. BDL Capital Management purchased a new stake in Golden Ocean Group during the 4th quarter worth approximately $930,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Golden Ocean Group by 18.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,880 shares of the shipping company’s stock worth $340,000 after purchasing an additional 5,420 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Golden Ocean Group in the 3rd quarter valued at $1,042,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Golden Ocean Group by 15.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,151,274 shares of the shipping company’s stock valued at $11,236,000 after acquiring an additional 155,425 shares during the last quarter. Hedge funds and other institutional investors own 22.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on GOGL shares. StockNews.com raised shares of Golden Ocean Group from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Jefferies Financial Group downgraded shares of Golden Ocean Group from a “buy” rating to a “hold” rating and set a $15.50 price objective on the stock. in a report on Wednesday, May 22nd.

Golden Ocean Group Stock Performance

NASDAQ GOGL traded up $0.20 during mid-day trading on Wednesday, reaching $14.12. 1,382,638 shares of the stock were exchanged, compared to its average volume of 1,726,015. The business’s 50 day moving average is $14.11 and its 200-day moving average is $12.44. Golden Ocean Group Limited has a 1 year low of $6.89 and a 1 year high of $15.77. The company has a market capitalization of $2.82 billion, a P/E ratio of 14.97 and a beta of 1.16. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.25 and a current ratio of 1.25.

Golden Ocean Group (NASDAQ:GOGL) last announced its quarterly earnings results on Wednesday, May 22nd. The shipping company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. The firm had revenue of $196.70 million for the quarter. Golden Ocean Group had a net margin of 19.92% and a return on equity of 8.67%. On average, equities research analysts forecast that Golden Ocean Group Limited will post 1.43 EPS for the current fiscal year.

Golden Ocean Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, June 7th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 8.50%. The ex-dividend date was Friday, June 7th. Golden Ocean Group’s dividend payout ratio is presently 129.03%.

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.