Blue Trust Inc. Raises Stake in Golden Ocean Group Limited (NASDAQ:GOGL)

Blue Trust Inc. lifted its holdings in Golden Ocean Group Limited (NASDAQ:GOGL) by 31.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 52,613 shares of the shipping company’s stock after acquiring an additional 12,468 shares during the quarter. Blue Trust Inc.’s holdings in Golden Ocean Group were worth $471,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Two Sigma Advisers LP raised its position in Golden Ocean Group by 6.9% in the 3rd quarter. Two Sigma Advisers LP now owns 2,751,677 shares of the shipping company’s stock worth $36,817,000 after purchasing an additional 177,100 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Golden Ocean Group by 196.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 961,367 shares of the shipping company’s stock valued at $8,614,000 after acquiring an additional 637,103 shares during the last quarter. Empowered Funds LLC boosted its holdings in Golden Ocean Group by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 929,764 shares of the shipping company’s stock valued at $12,440,000 after acquiring an additional 47,302 shares during the period. Mirabella Financial Services LLP bought a new position in Golden Ocean Group during the 3rd quarter worth approximately $9,360,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in Golden Ocean Group by 32.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 694,290 shares of the shipping company’s stock worth $9,290,000 after purchasing an additional 168,898 shares during the period. Hedge funds and other institutional investors own 22.00% of the company’s stock.

Analyst Ratings Changes

GOGL has been the subject of a number of analyst reports. Pareto Securities reissued a “hold” rating and set a $12.50 price objective on shares of Golden Ocean Group in a research note on Thursday, November 21st. StockNews.com lowered shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Saturday, October 5th. Finally, Jefferies Financial Group lowered their price objective on shares of Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th.

Golden Ocean Group Price Performance

GOGL opened at $9.25 on Friday. The stock’s 50 day moving average price is $9.29 and its 200-day moving average price is $11.07. Golden Ocean Group Limited has a 52-week low of $8.52 and a 52-week high of $15.77. The stock has a market capitalization of $1.85 billion, a PE ratio of 7.64 and a beta of 1.18. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22.

Golden Ocean Group (NASDAQ:GOGL) last issued its quarterly earnings data on Wednesday, November 27th. The shipping company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. Golden Ocean Group had a net margin of 23.89% and a return on equity of 13.14%. On average, equities research analysts predict that Golden Ocean Group Limited will post 1.14 EPS for the current year.

Golden Ocean Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 9th were issued a dividend of $0.30 per share. The ex-dividend date was Monday, December 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 12.97%. Golden Ocean Group’s dividend payout ratio (DPR) is 99.17%.

About Golden Ocean Group

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.