Denali Advisors LLC Has $5.56 Million Stock Holdings in Golden Ocean Group Limited (NASDAQ:GOGL)

Denali Advisors LLC increased its position in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 27.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 620,490 shares of the shipping company’s stock after purchasing an additional 133,200 shares during the period. Denali Advisors LLC’s holdings in Golden Ocean Group were worth $5,560,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new position in shares of Golden Ocean Group during the third quarter worth approximately $28,000. FMR LLC increased its stake in Golden Ocean Group by 146.8% during the 3rd quarter. FMR LLC now owns 12,210 shares of the shipping company’s stock valued at $163,000 after purchasing an additional 7,263 shares in the last quarter. Svenska Handelsbanken AB publ acquired a new position in Golden Ocean Group during the fourth quarter worth $208,000. Quantinno Capital Management LP raised its holdings in Golden Ocean Group by 96.3% during the third quarter. Quantinno Capital Management LP now owns 19,740 shares of the shipping company’s stock worth $264,000 after buying an additional 9,684 shares during the last quarter. Finally, Onyx Bridge Wealth Group LLC lifted its stake in shares of Golden Ocean Group by 10.4% in the fourth quarter. Onyx Bridge Wealth Group LLC now owns 35,091 shares of the shipping company’s stock valued at $314,000 after buying an additional 3,315 shares in the last quarter. Institutional investors own 22.00% of the company’s stock.

Wall Street Analyst Weigh In

GOGL has been the subject of several recent research reports. Pareto Securities reissued a “hold” rating and set a $12.50 target price on shares of Golden Ocean Group in a research report on Thursday, November 21st. Jefferies Financial Group decreased their price objective on Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating for the company in a report on Wednesday, November 27th.

Golden Ocean Group Price Performance

GOGL opened at $9.40 on Wednesday. The firm’s fifty day moving average price is $9.12 and its two-hundred day moving average price is $10.65. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 7.77 and a beta of 1.16. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. Golden Ocean Group Limited has a 1 year low of $8.52 and a 1 year high of $15.77.

Golden Ocean Group (NASDAQ:GOGL) last released its quarterly earnings results on Wednesday, November 27th. The shipping company reported $0.33 earnings per share for the quarter, topping 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%. As a group, analysts anticipate that Golden Ocean Group Limited will post 1.14 earnings per share for the current fiscal year.

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.