ProShare Advisors LLC Sells 5,632 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

ProShare Advisors LLC decreased its position in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 25.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,496 shares of the shipping company’s stock after selling 5,632 shares during the quarter. ProShare Advisors LLC’s holdings in Golden Ocean Group were worth $228,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its stake in Golden Ocean Group by 1,372.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,260,278 shares of the shipping company’s stock valued at $17,392,000 after purchasing an additional 1,174,716 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Golden Ocean Group by 406.0% in the 1st quarter. BNP Paribas Financial Markets now owns 156,392 shares of the shipping company’s stock worth $2,027,000 after acquiring an additional 125,484 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Golden Ocean Group by 463.6% in the 1st quarter. Russell Investments Group Ltd. now owns 610,850 shares of the shipping company’s stock valued at $7,916,000 after acquiring an additional 502,476 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Golden Ocean Group by 1,318.6% during the 1st 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. Finally, Sei Investments Co. bought a new stake in Golden Ocean Group during the 1st quarter worth approximately $677,000. 22.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. StockNews.com cut Golden Ocean Group from a “buy” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group cut their price objective on shares of Golden Ocean Group from $15.50 to $14.50 and set a “hold” rating on the stock in a report on Wednesday, August 28th.

Golden Ocean Group Trading Up 0.1 %

NASDAQ:GOGL opened at $12.98 on Friday. Golden Ocean Group Limited has a 52 week low of $7.09 and a 52 week high of $15.77. The firm has a 50-day moving average price of $12.15 and a two-hundred day moving average price of $13.11. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.00 and a current ratio of 1.17. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 13.96 and a beta of 1.17.

Golden Ocean Group (NASDAQ:GOGL) last released its earnings results on Wednesday, August 28th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, beating 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 return on equity of 10.57% and a net margin of 22.01%. On average, equities analysts expect 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 paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.24%. The ex-dividend date of this dividend was Wednesday, September 11th. 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.