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

Blue Trust Inc. lifted its holdings in Golden Ocean Group Limited (NASDAQ:GOGL) by 31.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,613 shares of the shipping company’s stock after buying an additional 12,468 shares during the period. Blue Trust Inc.’s holdings in Golden Ocean Group were worth $471,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its stake in Golden Ocean Group by 3.1% in the second quarter. The Manufacturers Life Insurance Company now owns 43,840 shares of the shipping company’s stock valued at $605,000 after acquiring an additional 1,300 shares during the last quarter. Onyx Bridge Wealth Group LLC lifted its stake in Golden Ocean Group by 6.4% in the third quarter. Onyx Bridge Wealth Group LLC now owns 31,776 shares of the shipping company’s stock valued at $425,000 after purchasing an additional 1,917 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Golden Ocean Group during the third quarter valued at $28,000. Sei Investments Co. increased its position in Golden Ocean Group by 4.1% in the second quarter. Sei Investments Co. now owns 54,404 shares of the shipping company’s stock worth $751,000 after buying an additional 2,144 shares during the last quarter. Finally, Custom Index Systems LLC raised its stake in shares of Golden Ocean Group by 11.9% in the third quarter. Custom Index Systems LLC now owns 28,389 shares of the shipping company’s stock valued at $380,000 after buying an additional 3,026 shares during the period. 22.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Pareto Securities reiterated a “hold” rating and set a $12.50 price target on shares of Golden Ocean Group in a research note on Thursday, November 21st. Jefferies Financial Group reduced their target price 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. Finally, StockNews.com cut shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th.

Golden Ocean Group Stock Down 0.1 %

Shares of NASDAQ GOGL opened at $9.25 on Friday. The business has a 50-day simple moving average of $9.29 and a two-hundred day simple moving average of $11.07. Golden Ocean Group Limited has a 52 week low of $8.52 and a 52 week high of $15.77. The company has a market cap of $1.85 billion, a P/E ratio of 7.64 and a beta of 1.18. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.65.

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, beating 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%. Research analysts anticipate that Golden Ocean Group Limited will post 1.14 earnings per share for the current fiscal year.

Golden Ocean Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 9th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 12.97%. The ex-dividend date was Monday, December 9th. Golden Ocean Group’s dividend payout ratio 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.