Kingsview Wealth Management LLC Takes $519,000 Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Kingsview Wealth Management LLC acquired a new position in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 57,939 shares of the shipping company's stock, valued at approximately $519,000.

Other large investors have also recently bought and sold shares of the company. Two Sigma Advisers LP lifted its stake in shares of Golden Ocean Group by 6.9% in the 3rd quarter. Two Sigma Advisers LP now owns 2,751,677 shares of the shipping company's stock valued at $36,817,000 after purchasing an additional 177,100 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Golden Ocean Group by 196.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 961,367 shares of the shipping company's stock valued at $8,614,000 after purchasing an additional 637,103 shares during the period. Empowered Funds LLC lifted its stake in shares of Golden Ocean Group by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 929,764 shares of the shipping company's stock valued at $12,440,000 after purchasing an additional 47,302 shares during the period. Mirabella Financial Services LLP acquired a new position in shares of Golden Ocean Group in the 3rd quarter valued at $9,360,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Golden Ocean Group by 32.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 694,290 shares of the shipping company's stock valued at $9,290,000 after purchasing an additional 168,898 shares during the period. Institutional investors and hedge funds own 22.00% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Jefferies Financial Group cut their price target on Golden Ocean Group from $12.50 to $12.00 and set a "hold" rating on the stock in a research note on Wednesday, November 27th. Pareto Securities reaffirmed a "hold" rating and set a $12.50 price objective on shares of Golden Ocean Group in a research note on Thursday, November 21st.

Golden Ocean Group Trading Up 0.2 %

Golden Ocean Group stock traded up $0.02 during mid-day trading on Monday, hitting $9.37. 1,915,114 shares of the company's stock were exchanged, compared to its average volume of 1,732,143. The firm has a market capitalization of $1.87 billion, a P/E ratio of 7.74 and a beta of 1.16. Golden Ocean Group Limited has a fifty-two week low of $8.52 and a fifty-two week high of $15.77. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.65. The company's 50 day simple moving average is $9.08 and its 200-day simple moving average is $10.76.

Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, November 27th. The shipping company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. Golden Ocean Group had a return on equity of 13.14% and a net margin of 23.89%. On average, equities analysts anticipate that Golden Ocean Group Limited will post 1.14 earnings per share for the current year.

Golden Ocean Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 9th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 12.81%. The ex-dividend date of this dividend was Monday, December 9th. Golden Ocean Group's dividend payout ratio (DPR) is presently 99.17%.

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.