Marshall Wace LLP Increases Stock Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Marshall Wace LLP increased its holdings in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 96.9% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,557,288 shares of the shipping company's stock after buying an additional 766,436 shares during the quarter. Marshall Wace LLP owned about 0.78% of Golden Ocean Group worth $21,491,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Nisa Investment Advisors LLC lifted its holdings in shares of Golden Ocean Group by 1,720.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,804 shares of the shipping company's stock valued at $52,000 after buying an additional 3,595 shares during the period. EverSource Wealth Advisors LLC boosted its position 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 worth $127,000 after purchasing an additional 8,791 shares during the last quarter. Fifth Lane Capital LP bought a new stake in shares of Golden Ocean Group during the 1st quarter valued at about $137,000. Lazard Asset Management LLC purchased a new stake in shares of Golden Ocean Group during the 1st quarter valued at about $149,000. Finally, Bayesian Capital Management LP bought a new position in shares of Golden Ocean Group in the 1st quarter worth approximately $151,000. Hedge funds and other institutional investors own 22.00% of the company's stock.

Wall Street Analyst Weigh In

GOGL has been the topic of several recent research reports. StockNews.com upgraded shares of Golden Ocean Group from a "hold" rating to a "buy" rating in a research report on Friday. Jefferies Financial Group reduced their price target on Golden Ocean Group from $15.50 to $14.50 and set a "hold" rating for the company in a research report on Wednesday, August 28th.

Golden Ocean Group Price Performance

Shares of NASDAQ GOGL traded down $0.07 during midday trading on Friday, reaching $13.17. The stock had a trading volume of 808,081 shares, compared to its average volume of 1,627,995. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.00 and a current ratio of 1.17. Golden Ocean Group Limited has a 12-month low of $7.09 and a 12-month high of $15.77. The stock has a 50-day moving average of $12.13 and a 200-day moving average of $13.11. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of 14.16 and a beta of 1.16.

Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 28th. The shipping company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.28 by $0.04. Golden Ocean Group had a return on equity of 10.57% and a net margin of 22.01%. The business had revenue of $197.35 million for the quarter, compared to the consensus estimate of $187.74 million. As a group, research analysts anticipate that Golden Ocean Group Limited will post 1.35 EPS for the current fiscal year.

Golden Ocean Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders 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 yield of 9.11%. Golden Ocean Group's payout ratio is 129.03%.

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.