Skandinaviska Enskilda Banken AB publ Purchases 26,699 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Skandinaviska Enskilda Banken AB publ boosted its position in Golden Ocean Group Limited (NASDAQ:GOGL) by 1,528.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,446 shares of the shipping company’s stock after acquiring an additional 26,699 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Golden Ocean Group were worth $392,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Golden Ocean Group by 273.9% during the first quarter. Vanguard Group Inc. now owns 5,190,885 shares of the shipping company’s stock valued at $67,274,000 after buying an additional 3,802,652 shares during the last quarter. 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 valued at $17,392,000 after acquiring an additional 1,174,716 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. Acadian Asset Management LLC bought a new stake in Golden Ocean Group during the 1st quarter worth approximately $8,927,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Golden Ocean Group by 463.6% in the first 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 last quarter. Institutional investors and hedge funds own 22.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on GOGL. StockNews.com raised Golden Ocean Group from a “sell” rating to a “hold” rating in a research report on Friday, August 30th. 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 Price Performance

Shares of NASDAQ GOGL opened at $13.08 on Wednesday. The company has a market capitalization of $2.61 billion, a PE ratio of 14.06 and a beta of 1.16. The company has a quick ratio of 1.00, a current ratio of 1.17 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average price is $12.13 and its 200-day moving average price is $13.11. Golden Ocean Group Limited has a twelve month low of $7.09 and a twelve month high of $15.77.

Golden Ocean Group (NASDAQ:GOGL) last announced its quarterly earnings data on Wednesday, August 28th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The firm had revenue of $197.35 million during the quarter, compared to the consensus estimate 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 anticipate that Golden Ocean Group Limited will post 1.35 EPS for the current year.

Golden Ocean Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Wednesday, September 11th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 9.17%. The ex-dividend date of this dividend was Wednesday, September 11th. Golden Ocean Group’s dividend payout ratio is 129.03%.

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.