Quantbot Technologies LP Increases Stock Holdings in Golden Ocean Group Limited (NASDAQ:GOGL)

Quantbot Technologies LP grew its position in Golden Ocean Group Limited (NASDAQ:GOGL) by 93.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 228,972 shares of the shipping company’s stock after buying an additional 110,745 shares during the quarter. Quantbot Technologies LP owned 0.11% of Golden Ocean Group worth $3,064,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GOGL. Nisa Investment Advisors LLC increased its position in shares of Golden Ocean Group by 1,720.1% in the second quarter. Nisa Investment Advisors LLC now owns 3,804 shares of the shipping company’s stock valued at $52,000 after buying an additional 3,595 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Golden Ocean Group by 2,319.5% in the second quarter. EverSource Wealth Advisors LLC now owns 9,170 shares of the shipping company’s stock valued at $127,000 after buying an additional 8,791 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Golden Ocean Group in the first quarter valued at $149,000. Bayesian Capital Management LP purchased a new position in shares of Golden Ocean Group in the first quarter valued at $151,000. Finally, Vanguard Personalized Indexing Management LLC increased its position in Golden Ocean Group by 16.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,420 shares of the shipping company’s stock worth $225,000 after purchasing an additional 2,267 shares in the last quarter. Hedge funds and other institutional investors own 22.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GOGL. Jefferies Financial Group dropped their price objective on Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating for the company in a research report on Wednesday. Pareto Securities reaffirmed a “hold” rating and issued a $12.50 price objective on shares of Golden Ocean Group in a research note on Thursday, November 21st. Finally, StockNews.com lowered Golden Ocean Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th.

Golden Ocean Group Stock Performance

Golden Ocean Group stock opened at $10.09 on Thursday. The stock’s 50 day moving average price is $11.78 and its 200 day moving average price is $12.58. The firm has a market capitalization of $2.02 billion, a PE ratio of 9.43 and a beta of 1.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.00 and a current ratio of 1.17. Golden Ocean Group Limited has a one year low of $8.42 and a one year high of $15.77.

Golden Ocean Group (NASDAQ:GOGL) last released its quarterly earnings results on Wednesday, August 28th. The shipping company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.28 by $0.04. The firm had revenue of $197.35 million for the quarter, compared to analyst estimates of $187.74 million. Golden Ocean Group had a return on equity of 10.57% and a net margin of 22.01%. As a group, sell-side analysts expect that Golden Ocean Group Limited will post 1.18 EPS for the current fiscal year.

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.