Nisa Investment Advisors LLC Buys 3,595 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Nisa Investment Advisors LLC raised its stake in Golden Ocean Group Limited (NASDAQ:GOGL) by 1,720.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 3,804 shares of the shipping company’s stock after purchasing an additional 3,595 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Golden Ocean Group were worth $52,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in GOGL. Assenagon Asset Management S.A. lifted its position in Golden Ocean Group by 1,372.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,260,278 shares of the shipping company’s stock worth $17,392,000 after buying an additional 1,174,716 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Golden Ocean Group by 406.0% during the 1st quarter. BNP Paribas Financial Markets now owns 156,392 shares of the shipping company’s stock valued at $2,027,000 after purchasing an additional 125,484 shares during the last quarter. Russell Investments Group Ltd. raised 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 worth $7,916,000 after purchasing an additional 502,476 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Golden Ocean Group by 1,318.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 786,018 shares of the shipping company’s stock worth $10,187,000 after purchasing an additional 730,609 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Golden Ocean Group by 18.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,880 shares of the shipping company’s stock valued at $340,000 after buying an additional 5,420 shares during the period. Hedge funds and other institutional investors own 22.00% of the company’s stock.

Wall Street Analysts Forecast Growth

GOGL has been the subject of a number of recent research reports. Jefferies Financial Group lowered Golden Ocean Group from a “buy” rating to a “hold” rating and set a $15.50 target price for the company. in a research note on Wednesday, May 22nd. StockNews.com lowered Golden Ocean Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th.

Golden Ocean Group Stock Performance

Shares of NASDAQ:GOGL opened at $12.24 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.68. The company has a 50-day moving average price of $12.81 and a 200-day moving average price of $13.11. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 13.16 and a beta of 1.16. Golden Ocean Group Limited has a 12 month low of $6.89 and a 12 month high of $15.77.

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.