Susquehanna Fundamental Investments LLC Grows Stake in Golden Ocean Group Limited (NASDAQ:GOGL)

Susquehanna Fundamental Investments LLC boosted its position in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 129.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,193 shares of the shipping company's stock after buying an additional 77,971 shares during the quarter. Susquehanna Fundamental Investments LLC owned approximately 0.07% of Golden Ocean Group worth $1,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of GOGL. Nisa Investment Advisors LLC raised its stake in shares of Golden Ocean Group by 1,720.1% during the second quarter. Nisa Investment Advisors LLC now owns 3,804 shares of the shipping company's stock valued at $52,000 after acquiring an additional 3,595 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Golden Ocean Group by 2,319.5% during the second quarter. EverSource Wealth Advisors LLC now owns 9,170 shares of the shipping company's stock valued at $127,000 after buying an additional 8,791 shares during the period. Fifth Lane Capital LP bought a new position in shares of Golden Ocean Group during the first quarter valued at approximately $137,000. Lazard Asset Management LLC purchased a new stake in Golden Ocean Group in the first quarter worth $149,000. Finally, Bayesian Capital Management LP bought a new stake in Golden Ocean Group in the first quarter valued at $151,000. 22.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. StockNews.com upgraded shares of Golden Ocean Group from a "hold" rating to a "buy" rating in a research note on Friday. Jefferies Financial Group decreased their target price on shares of Golden Ocean Group from $15.50 to $14.50 and set a "hold" rating for the company in a research note on Wednesday, August 28th.

Golden Ocean Group Stock Performance

Shares of GOGL stock traded down $0.15 during trading hours on Tuesday, reaching $13.23. 767,371 shares of the company traded hands, compared to its average volume of 1,621,353. Golden Ocean Group Limited has a 12-month low of $7.09 and a 12-month 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. The company has a market cap of $2.65 billion, a P/E ratio of 14.39 and a beta of 1.16. The firm has a 50-day moving average price of $12.13 and a 200 day moving average price of $13.10.

Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $197.35 million for the quarter, compared to analysts' expectations 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 predict that Golden Ocean Group Limited will post 1.35 earnings per share for the current fiscal year.

Golden Ocean Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Wednesday, September 11th were issued a $0.30 dividend. The ex-dividend date was Wednesday, September 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.07%. Golden Ocean Group's dividend payout ratio (DPR) is presently 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.