SG Americas Securities LLC Reduces Position in Golden Ocean Group Limited (NASDAQ:GOGL)

SG Americas Securities LLC lessened its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL – Get Rating) by 78.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,565 shares of the shipping company’s stock after selling 52,801 shares during the period. SG Americas Securities LLC’s holdings in Golden Ocean Group were worth $127,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Legal & General Group Plc purchased a new stake in Golden Ocean Group during the 2nd quarter worth approximately $27,000. Optiver Holding B.V. acquired a new stake in Golden Ocean Group during the 3rd quarter valued at approximately $60,000. Prelude Capital Management LLC acquired a new stake in Golden Ocean Group during the 3rd quarter valued at approximately $78,000. Jump Financial LLC acquired a new stake in Golden Ocean Group during the 3rd quarter valued at approximately $80,000. Finally, DAVENPORT & Co LLC acquired a new stake in Golden Ocean Group during the 4th quarter valued at approximately $93,000. Hedge funds and other institutional investors own 37.16% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on GOGL shares. Pareto Securities upgraded shares of Golden Ocean Group from a “sell” rating to a “hold” rating in a research note on Friday. StockNews.com started coverage on shares of Golden Ocean Group in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $9.50 target price on shares of Golden Ocean Group in a research note on Thursday, February 16th.

Golden Ocean Group Price Performance

Golden Ocean Group stock opened at $8.54 on Tuesday. Golden Ocean Group Limited has a 52-week low of $7.24 and a 52-week high of $16.46. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 3.73 and a beta of 1.24. The company has a fifty day simple moving average of $9.19 and a 200-day simple moving average of $9.12. The company has a quick ratio of 1.20, a current ratio of 1.41 and a debt-to-equity ratio of 0.58.

Golden Ocean Group (NASDAQ:GOGL – Get Rating) last released its earnings results on Thursday, February 16th. The shipping company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.14. Golden Ocean Group had a net margin of 41.48% and a return on equity of 22.62%. The business had revenue of $180.37 million during the quarter, compared to analyst estimates of $144.30 million. On average, equities analysts anticipate that Golden Ocean Group Limited will post 0.93 EPS for the current fiscal year.

Golden Ocean Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 9th. Investors of record on Tuesday, February 28th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 9.37%. The ex-dividend date of this dividend was Monday, February 27th. Golden Ocean Group’s payout ratio is currently 34.93%.

About Golden Ocean Group

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Golden Ocean Group Ltd. engages in the ownership and operation of dry bulk vessels. It manages Newcastlemax, Capesize, Panamax, and Ultramax vessels and transports bulk commodities, including ores, coal, grains, and fertilizers. It is also involved in the charter, purchase, and sale of vessels. The company was founded on September 18, 1996 and is headquartered in Hamilton, Bermuda.