PDT Partners LLC Has $4.08 Million Position in Golden Ocean Group Limited (NASDAQ:GOGL)

PDT Partners LLC increased its holdings in Golden Ocean Group Limited (NASDAQ:GOGL) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 305,470 shares of the shipping company’s stock after purchasing an additional 8,001 shares during the period. PDT Partners LLC’s holdings in Golden Ocean Group were worth $4,084,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC raised its holdings in shares of Golden Ocean Group by 1.1% in the 2nd quarter. SummerHaven Investment Management LLC now owns 95,615 shares of the shipping company’s stock worth $1,319,000 after buying an additional 1,042 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Golden Ocean Group by 3.1% in the second quarter. The Manufacturers Life Insurance Company now owns 43,840 shares of the shipping company’s stock valued at $605,000 after acquiring an additional 1,300 shares during the period. Onyx Bridge Wealth Group LLC grew its position in Golden Ocean Group by 6.4% in the third quarter. Onyx Bridge Wealth Group LLC now owns 31,776 shares of the shipping company’s stock valued at $425,000 after acquiring an additional 1,917 shares during the period. Sei Investments Co. raised its stake in Golden Ocean Group by 4.1% during the second quarter. Sei Investments Co. now owns 54,404 shares of the shipping company’s stock worth $751,000 after acquiring an additional 2,144 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Golden Ocean Group by 16.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,420 shares of the shipping company’s stock valued at $225,000 after acquiring an additional 2,267 shares during the period. Institutional investors own 22.00% of the company’s stock.

Golden Ocean Group Price Performance

Golden Ocean Group stock opened at $10.00 on Friday. The business’s fifty day moving average is $11.69 and its two-hundred day moving average is $12.53. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.00 and a current ratio of 1.17. The firm has a market cap of $2.00 billion, a P/E ratio of 8.26 and a beta of 1.20. Golden Ocean Group Limited has a 52 week low of $8.42 and a 52 week high of $15.77.

Golden Ocean Group (NASDAQ:GOGL) last issued its quarterly earnings results on Wednesday, August 28th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.04. Golden Ocean Group had a net margin of 23.89% and a return on equity of 13.14%. The business had revenue of $197.35 million for the quarter, compared to the consensus estimate of $187.74 million. Equities research analysts forecast that Golden Ocean Group Limited will post 1.18 earnings per share for the current fiscal year.

Golden Ocean Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 9th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, December 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 12.00%. Golden Ocean Group’s payout ratio is 99.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group lowered their target price on shares of Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating on the stock in a report on Wednesday. Pareto Securities restated a “hold” rating and issued a $12.50 price target on shares of Golden Ocean Group in a research report on Thursday, November 21st. Finally, StockNews.com lowered shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Saturday, October 5th.

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.