Citigroup Inc. trimmed its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 27.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 558,763 shares of the shipping company's stock after selling 208,720 shares during the quarter. Citigroup Inc. owned 0.28% of Golden Ocean Group worth $7,470,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Golden Ocean Group by 273.9% during the 1st quarter. Vanguard Group Inc. now owns 5,190,885 shares of the shipping company's stock valued at $67,274,000 after buying an additional 3,802,652 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Golden Ocean Group by 1,372.9% in the second quarter. Assenagon Asset Management S.A. now owns 1,260,278 shares of the shipping company's stock worth $17,392,000 after purchasing an additional 1,174,716 shares in the last quarter. Marshall Wace LLP increased its holdings in Golden Ocean Group by 96.9% during the 2nd quarter. Marshall Wace LLP now owns 1,557,288 shares of the shipping company's stock worth $21,491,000 after purchasing an additional 766,436 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Golden Ocean Group by 55.5% in the 2nd quarter. Hsbc Holdings PLC now owns 1,169,814 shares of the shipping company's stock worth $16,219,000 after buying an additional 417,539 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of Golden Ocean Group by 42.7% during the 2nd quarter. Acadian Asset Management LLC now owns 991,898 shares of the shipping company's stock worth $13,683,000 after buying an additional 296,842 shares in the last quarter. 22.00% of the stock is owned by hedge funds and other institutional investors.
Golden Ocean Group Stock Down 0.9 %
Golden Ocean Group stock traded down $0.09 during trading hours on Friday, reaching $10.00. The stock had a trading volume of 945,398 shares, compared to its average volume of 1,505,903. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 8.26 and a beta of 1.20. The business's 50 day moving average price is $11.69 and its 200-day moving average price is $12.51. Golden Ocean Group Limited has a 52 week low of $8.42 and a 52 week high of $15.77. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 1.00.
Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $187.74 million. Golden Ocean Group had a net margin of 23.89% and a return on equity of 13.14%. Sell-side analysts anticipate that Golden Ocean Group Limited will post 1.18 EPS for the current year.
Golden Ocean Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, December 9th. This represents a $1.20 annualized dividend and a dividend yield of 12.00%. Golden Ocean Group's dividend payout ratio is presently 99.17%.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Jefferies Financial Group lowered their price objective on shares of Golden Ocean Group from $12.50 to $12.00 and set a "hold" rating for the company in a research note on Wednesday. Pareto Securities reiterated a "hold" rating and set a $12.50 price objective on shares of Golden Ocean Group in a research note 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.
Check Out Our Latest Analysis on Golden Ocean Group
About Golden Ocean Group
(
Free Report)
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.
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