Assenagon Asset Management S.A. Sells 936,014 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Assenagon Asset Management S.A. cut its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 74.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 324,264 shares of the shipping company's stock after selling 936,014 shares during the quarter. Assenagon Asset Management S.A. owned 0.16% of Golden Ocean Group worth $4,339,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GOGL. BNP Paribas Financial Markets increased its position in shares of Golden Ocean Group by 406.0% in the first quarter. BNP Paribas Financial Markets now owns 156,392 shares of the shipping company's stock valued at $2,027,000 after acquiring an additional 125,484 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Golden Ocean Group by 463.6% during the 1st quarter. Russell Investments Group Ltd. now owns 610,850 shares of the shipping company's stock valued at $7,916,000 after buying an additional 502,476 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted 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 purchasing an additional 730,609 shares during the last quarter. Sei Investments Co. bought a new stake in shares of Golden Ocean Group in the 1st quarter worth approximately $677,000. Finally, Quantbot Technologies LP grew its stake in shares of Golden Ocean Group by 4,488.2% in the 1st quarter. Quantbot Technologies LP now owns 119,935 shares of the shipping company's stock worth $1,554,000 after buying an additional 117,321 shares during the last quarter. Hedge funds and other institutional investors own 22.00% of the company's stock.

Golden Ocean Group Stock Performance

Shares of GOGL stock traded down $0.15 during mid-day trading on Wednesday, reaching $10.69. 1,315,579 shares of the company's stock traded hands, compared to its average volume of 1,587,420. Golden Ocean Group Limited has a 12 month low of $7.09 and a 12 month high of $15.77. The firm has a 50 day moving average price of $11.96 and a two-hundred day moving average price of $12.93. The firm has a market capitalization of $2.14 billion, a PE ratio of 9.99 and a beta of 1.17. 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 (NASDAQ:GOGL - Get Free Report) last released its earnings results on Wednesday, August 28th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.04. The company had revenue of $197.35 million during the quarter, compared to analyst estimates of $187.74 million. Golden Ocean Group had a net margin of 22.01% and a return on equity of 10.57%. On average, research analysts forecast that Golden Ocean Group Limited will post 1.18 EPS for the current 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 11.23%. Golden Ocean Group's payout ratio is 112.15%.

Analysts Set New Price Targets

GOGL has been the subject of a number of analyst reports. StockNews.com lowered shares of Golden Ocean Group from a "buy" rating to a "hold" rating in a research note on Saturday, October 5th. Jefferies Financial Group lowered their target price on shares of Golden Ocean Group from $15.50 to $14.50 and set a "hold" rating on the stock in a research note on Wednesday, August 28th.

Golden Ocean Group 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.