Assenagon Asset Management S.A. Decreases Stock Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Assenagon Asset Management S.A. cut its position in Golden Ocean Group Limited (NASDAQ:GOGL) by 74.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 324,264 shares of the shipping company’s stock after selling 936,014 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Golden Ocean Group were worth $4,339,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Golden Ocean Group by 273.9% in the first quarter. Vanguard Group Inc. now owns 5,190,885 shares of the shipping company’s stock valued at $67,274,000 after purchasing an additional 3,802,652 shares during the period. Bridgeway Capital Management LLC raised its holdings in Golden Ocean Group by 15.7% in the first quarter. Bridgeway Capital Management LLC now owns 1,557,322 shares of the shipping company’s stock valued at $20,183,000 after acquiring an additional 211,629 shares in the last quarter. Marshall Wace LLP raised its holdings in Golden Ocean Group by 96.9% in the second quarter. Marshall Wace LLP now owns 1,557,288 shares of the shipping company’s stock valued at $21,491,000 after acquiring an additional 766,436 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Golden Ocean Group by 55.5% during the second quarter. Hsbc Holdings PLC now owns 1,169,814 shares of the shipping company’s stock worth $16,219,000 after purchasing an additional 417,539 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in shares of Golden Ocean Group by 42.7% during the second quarter. Acadian Asset Management LLC now owns 991,898 shares of the shipping company’s stock worth $13,683,000 after purchasing an additional 296,842 shares during the period. 22.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GOGL shares. StockNews.com cut shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Saturday, October 5th. Jefferies Financial Group dropped 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 report on Wednesday, August 28th.

Golden Ocean Group Stock Up 2.1 %

Golden Ocean Group stock opened at $10.84 on Wednesday. The company has a 50-day simple moving average of $11.99 and a 200-day simple moving average of $12.94. The firm has a market capitalization of $2.17 billion, a P/E ratio of 10.13 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 Limited has a one year low of $7.09 and a one year high of $15.77.

Golden Ocean Group (NASDAQ:GOGL) last released 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 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%. As a group, equities analysts expect that Golden Ocean Group Limited will post 1.18 earnings per share for the current year.

Golden Ocean Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Wednesday, September 11th were given a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $1.20 dividend on an annualized basis and a yield of 11.07%. Golden Ocean Group’s dividend payout ratio is presently 112.15%.

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.