Golden Ocean Group Limited (NASDAQ:GOGL - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $10.62, but opened at $10.93. Golden Ocean Group shares last traded at $10.94, with a volume of 499,718 shares changing hands.
Wall Street Analysts Forecast Growth
A number of analysts have commented on GOGL shares. Jefferies Financial Group dropped their price target on shares of Golden Ocean Group from $15.50 to $14.50 and set a "hold" rating on the stock in a research report on Wednesday, August 28th. StockNews.com downgraded shares of Golden Ocean Group from a "buy" rating to a "hold" rating in a research report on Saturday, October 5th.
Read Our Latest Research Report on GOGL
Golden Ocean Group Price Performance
The company has a market capitalization of $2.17 billion, a P/E ratio of 10.11 and a beta of 1.17. The business's 50-day simple moving average is $12.02 and its 200 day simple moving average is $12.96. The company has a current ratio of 1.17, a quick ratio of 1.00 and a debt-to-equity ratio of 0.66.
Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last released its quarterly earnings results on Wednesday, August 28th. The shipping company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.04. The company had revenue of $197.35 million for the quarter, compared to the consensus estimate of $187.74 million. Golden Ocean Group had a net margin of 22.01% and a return on equity of 10.57%. As a group, 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 was paid on Friday, September 20th. Stockholders of record on Wednesday, September 11th were paid a $0.30 dividend. The ex-dividend date was Wednesday, September 11th. This represents a $1.20 annualized dividend and a dividend yield of 11.07%. Golden Ocean Group's dividend payout ratio is currently 112.15%.
Hedge Funds Weigh In On Golden Ocean Group
Several hedge funds have recently made changes to their positions in GOGL. Vanguard Group Inc. grew its stake in shares of Golden Ocean Group by 273.9% in the 1st quarter. Vanguard Group Inc. now owns 5,190,885 shares of the shipping company's stock worth $67,274,000 after purchasing an additional 3,802,652 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Golden Ocean Group by 1,372.9% during the second quarter. Assenagon Asset Management S.A. now owns 1,260,278 shares of the shipping company's stock valued at $17,392,000 after acquiring an additional 1,174,716 shares during the period. Marshall Wace LLP raised its holdings in shares of Golden Ocean Group by 96.9% during the second quarter. Marshall Wace LLP now owns 1,557,288 shares of the shipping company's stock valued at $21,491,000 after acquiring an additional 766,436 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Golden Ocean Group by 1,318.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 786,018 shares of the shipping company's stock valued at $10,187,000 after acquiring an additional 730,609 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of Golden Ocean Group during the first quarter valued at approximately $8,927,000. Institutional investors and hedge funds own 22.00% of the company's stock.
About Golden Ocean Group
(
Get 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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