Golden Ocean Group Limited (NASDAQ:GOGL) Short Interest Down 15.4% in September

Golden Ocean Group Limited (NASDAQ:GOGL - Get Free Report) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 3,010,000 shares, a decline of 15.4% from the September 15th total of 3,560,000 shares. Based on an average daily volume of 1,390,000 shares, the days-to-cover ratio is currently 2.2 days. Currently, 2.5% of the company's shares are sold short.

Analyst Ratings Changes

A number of brokerages recently weighed in on GOGL. StockNews.com lowered shares of Golden Ocean Group from a "buy" rating to a "hold" rating in a report on Saturday, October 5th. Jefferies Financial Group lowered their price target on Golden Ocean Group from $15.50 to $14.50 and set a "hold" rating for the company in a report on Wednesday, August 28th.

Golden Ocean Group Stock Down 4.4 %

Shares of Golden Ocean Group stock traded down $0.54 during trading on Monday, hitting $11.75. 1,880,440 shares of the stock traded hands, compared to its average volume of 1,601,873. The company has a current ratio of 1.17, a quick ratio of 1.00 and a debt-to-equity ratio of 0.66. The stock's fifty day simple moving average is $12.18 and its 200 day simple moving average is $13.10. The firm has a market cap of $2.35 billion, a P/E ratio of 10.97 and a beta of 1.17. Golden Ocean Group has a 52-week low of $7.09 and a 52-week high of $15.77.

Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last posted its earnings results on Wednesday, August 28th. The shipping company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.04. Golden Ocean Group had a net margin of 22.01% and a return on equity of 10.57%. The business had revenue of $197.35 million for the quarter, compared to the consensus estimate of $187.74 million. On average, equities analysts predict that Golden Ocean Group will post 1.35 earnings per share for the current fiscal year.

Golden Ocean Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Wednesday, September 11th were given a dividend of $0.30 per share. The ex-dividend date was Wednesday, September 11th. This represents a $1.20 annualized dividend and a yield of 10.21%. Golden Ocean Group's dividend payout ratio (DPR) is presently 112.15%.

Hedge Funds Weigh In On Golden Ocean Group

Large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its position in shares of Golden Ocean Group by 1,720.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,804 shares of the shipping company's stock worth $52,000 after buying an additional 3,595 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in 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 acquiring an additional 8,791 shares in the last quarter. Fifth Lane Capital LP purchased a new position in Golden Ocean Group in the first quarter worth $137,000. Lazard Asset Management LLC acquired a new position in shares of Golden Ocean Group during the first quarter worth $149,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Golden Ocean Group during the first quarter worth $151,000. 22.00% of the stock is currently owned by institutional investors.

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.

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