GSA Capital Partners LLP Sells 83,666 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

GSA Capital Partners LLP decreased its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 53.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,879 shares of the shipping company’s stock after selling 83,666 shares during the quarter. GSA Capital Partners LLP’s holdings in Golden Ocean Group were worth $957,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. VisionPoint Advisory Group LLC purchased a new stake in shares of Golden Ocean Group in the 4th quarter worth approximately $41,000. Blue Trust Inc. purchased a new stake in shares of Golden Ocean Group in the 4th quarter worth approximately $53,000. Fifth Lane Capital LP purchased a new stake in Golden Ocean Group during the first quarter valued at approximately $137,000. Quadrature Capital Ltd purchased a new stake in Golden Ocean Group during the fourth quarter valued at approximately $171,000. Finally, SG Americas Securities LLC purchased a new stake in Golden Ocean Group during the fourth quarter valued at approximately $243,000. Institutional investors own 22.00% of the company’s stock.

Wall Street Analysts Forecast Growth

GOGL has been the subject of a number of analyst reports. StockNews.com raised shares of Golden Ocean Group from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Jefferies Financial Group lowered shares of Golden Ocean Group from a “buy” rating to a “hold” rating and set a $15.50 price target on the stock. in a research note on Wednesday, May 22nd.

Golden Ocean Group Stock Down 2.6 %

NASDAQ:GOGL opened at $12.95 on Thursday. The firm has a market capitalization of $2.59 billion, a P/E ratio of 14.30 and a beta of 1.16. Golden Ocean Group Limited has a 1-year low of $6.89 and a 1-year high of $15.77. The company’s fifty day moving average price is $14.07 and its 200-day moving average price is $12.59. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.25 and a quick ratio of 1.25.

Golden Ocean Group (NASDAQ:GOGL) last released its quarterly earnings data on Wednesday, May 22nd. The shipping company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. The firm had revenue of $196.70 million for the quarter. Golden Ocean Group had a net margin of 19.92% and a return on equity of 8.67%. As a group, equities research analysts anticipate that Golden Ocean Group Limited will post 1.43 EPS for the current year.

Golden Ocean Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, June 7th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.20 annualized dividend and a yield of 9.27%. Golden Ocean Group’s dividend payout ratio is presently 129.03%.

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.