SG Americas Securities LLC Purchases 5,968 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

SG Americas Securities LLC grew its position in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 14.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,304 shares of the shipping company’s stock after buying an additional 5,968 shares during the quarter. SG Americas Securities LLC’s holdings in Golden Ocean Group were worth $633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its holdings in shares of Golden Ocean Group by 1,372.9% during 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 buying an additional 1,174,716 shares during the period. BNP Paribas Financial Markets raised its holdings in Golden Ocean Group by 406.0% in the 1st quarter. BNP Paribas Financial Markets now owns 156,392 shares of the shipping company’s stock worth $2,027,000 after purchasing an additional 125,484 shares during the period. Russell Investments Group Ltd. raised its holdings 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. raised its holdings in Golden Ocean Group by 1,318.6% in the 1st 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 period. Finally, Sei Investments Co. bought a new position in Golden Ocean Group in the 1st quarter worth $677,000. 22.00% of the stock is owned by institutional investors.

Golden Ocean Group Price Performance

NASDAQ:GOGL opened at $11.75 on Tuesday. 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 business’s 50-day simple moving average is $12.19 and its two-hundred day simple moving average is $13.09. The stock has a market cap of $2.35 billion, a PE ratio of 10.98 and a beta of 1.17. Golden Ocean Group Limited has a 52 week low of $7.09 and a 52 week high of $15.77.

Golden Ocean Group (NASDAQ:GOGL) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $187.74 million. Golden Ocean Group had a return on equity of 10.57% and a net margin of 22.01%. As a group, analysts forecast that Golden Ocean Group Limited will post 1.35 EPS for the current fiscal year.

Golden Ocean Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Wednesday, September 11th were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, September 11th. This represents a $1.20 dividend on an annualized basis and a yield of 10.21%. Golden Ocean Group’s dividend payout ratio is presently 112.15%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Jefferies Financial Group decreased their target price on Golden Ocean Group from $15.50 to $14.50 and set a “hold” rating on the stock in a report on Wednesday, August 28th. StockNews.com cut Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Saturday, October 5th.

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.