Hsbc Holdings PLC Has $16.22 Million Stock Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Hsbc Holdings PLC raised its position in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 55.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,169,814 shares of the shipping company’s stock after purchasing an additional 417,539 shares during the quarter. Hsbc Holdings PLC’s holdings in Golden Ocean Group were worth $16,219,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its stake in shares of Golden Ocean Group by 1,720.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,804 shares of the shipping company’s stock valued at $52,000 after purchasing an additional 3,595 shares during the last quarter. Fifth Lane Capital LP bought a new position in Golden Ocean Group during the first quarter worth $137,000. Lazard Asset Management LLC acquired a new position in Golden Ocean Group in the first quarter valued at $149,000. Bayesian Capital Management LP bought a new stake in Golden Ocean Group during the first quarter valued at $151,000. Finally, Quadrature Capital Ltd acquired a new stake in Golden Ocean Group during the 4th quarter worth about $171,000. Institutional investors own 22.00% of the company’s stock.

Golden Ocean Group Trading Down 2.0 %

GOGL opened at $12.18 on Monday. The company has a fifty day moving average price of $12.16 and a two-hundred day moving average price of $13.12. Golden Ocean Group Limited has a 1-year low of $7.09 and a 1-year high of $15.77. The company has a market cap of $2.43 billion, a P/E ratio of 13.10 and a beta of 1.16. The company has a current ratio of 1.17, a quick ratio of 1.00 and a debt-to-equity ratio of 0.66.

Golden Ocean Group (NASDAQ:GOGL) last issued its earnings results on Wednesday, August 28th. The shipping company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 10.57% and a net margin of 22.01%. Analysts predict that Golden Ocean Group Limited will post 1.35 EPS for the current fiscal year.

Golden Ocean Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Wednesday, September 11th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.85%. The ex-dividend date was Wednesday, September 11th. Golden Ocean Group’s payout ratio is 129.03%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GOGL shares. StockNews.com raised Golden Ocean Group from a “sell” rating to a “hold” rating in a research note on Friday, August 30th. Jefferies Financial Group dropped their price target on 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.