SG Americas Securities LLC cut its holdings in Golden Ocean Group Limited (NASDAQ:GOGL) by 65.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,993 shares of the shipping company’s stock after selling 96,833 shares during the quarter. SG Americas Securities LLC’s holdings in Golden Ocean Group were worth $560,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Atticus Wealth Management LLC acquired a new position in shares of Golden Ocean Group during the 3rd quarter worth approximately $27,000. DekaBank Deutsche Girozentrale lifted its stake in Golden Ocean Group by 74.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 5,829 shares of the shipping company’s stock valued at $61,000 after buying an additional 2,484 shares in the last quarter. Aigen Investment Management LP purchased a new stake in Golden Ocean Group in the 2nd quarter valued at approximately $121,000. Sigma Planning Corp purchased a new stake in Golden Ocean Group in the 2nd quarter valued at approximately $144,000. Finally, Belvedere Trading LLC purchased a new stake in Golden Ocean Group in the 3rd quarter valued at approximately $160,000. 35.74% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research lowered Golden Ocean Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 5th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $11.88.
Golden Ocean Group (NASDAQ:GOGL) last issued its quarterly earnings results on Tuesday, November 23rd. The shipping company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.40. Golden Ocean Group had a return on equity of 20.25% and a net margin of 35.23%. The company had revenue of $387.62 million for the quarter, compared to analyst estimates of $251.80 million. During the same quarter in the prior year, the company posted $0.27 EPS. Equities research analysts anticipate that Golden Ocean Group Limited will post 2.24 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 16th. Shareholders of record on Thursday, December 9th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 36.48%. The ex-dividend date of this dividend was Wednesday, December 8th. This is a positive change from Golden Ocean Group’s previous quarterly dividend of $0.50. Golden Ocean Group’s dividend payout ratio is currently 187.85%.
Golden Ocean Group Profile
Golden Ocean Group Ltd. engages in the ownership and operation of dry bulk vessels. The firm manages Newcastlemax, Capesize, Panamax, and Ultramax vessels and transports bulk commodities, including ores, coal, grains, and fertilizers. It also involves in the charter, purchase, and sale of vessels. The company was founded on September 18, 1996 and is headquartered in Hamilton, Bermuda.
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