Golden Ocean Group Limited (NASDAQ:GOGL) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC reduced its position in Golden Ocean Group Limited (NASDAQ:GOGL) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 435,729 shares of the shipping company’s stock after selling 5,801 shares during the period. Nuveen Asset Management LLC owned approximately 0.22% of Golden Ocean Group worth $3,883,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Svenska Handelsbanken AB publ acquired a new position in Golden Ocean Group during the 4th quarter worth approximately $208,000. Jennison Associates LLC lifted its position in Golden Ocean Group by 33.8% during the 4th quarter. Jennison Associates LLC now owns 74,443 shares of the shipping company’s stock worth $667,000 after acquiring an additional 18,811 shares in the last quarter. Onyx Bridge Wealth Group LLC lifted its position in Golden Ocean Group by 10.4% during the 4th quarter. Onyx Bridge Wealth Group LLC now owns 35,091 shares of the shipping company’s stock worth $314,000 after acquiring an additional 3,315 shares in the last quarter. Kingsview Wealth Management LLC acquired a new position in Golden Ocean Group during the 4th quarter worth approximately $519,000. Finally, Empowered Funds LLC raised its position in shares of Golden Ocean Group by 3.6% in the 4th quarter. Empowered Funds LLC now owns 963,005 shares of the shipping company’s stock valued at $8,629,000 after purchasing an additional 33,241 shares in the last quarter. 22.00% of the stock is owned by institutional investors and hedge funds.

Golden Ocean Group Price Performance

Shares of GOGL opened at $7.68 on Monday. The company has a market cap of $1.54 billion, a P/E ratio of 6.35 and a beta of 1.06. The stock has a fifty day moving average price of $7.53 and a 200 day moving average price of $8.66. 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 12 month low of $6.27 and a 12 month high of $14.29.

Golden Ocean Group (NASDAQ:GOGL) last announced its quarterly earnings results on Wednesday, May 21st. The shipping company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.09). Golden Ocean Group had a return on equity of 13.14% and a net margin of 23.89%. The business had revenue of $115.00 million for the quarter, compared to analyst estimates of $106.48 million. On average, research analysts forecast that Golden Ocean Group Limited will post 1.14 earnings per share for the current year.

Golden Ocean Group Cuts Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, June 5th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, June 5th. Golden Ocean Group’s dividend payout ratio (DPR) is presently 35.09%.

Analyst Ratings Changes

A number of brokerages have issued reports on GOGL. Jefferies Financial Group cut their target price on Golden Ocean Group from $10.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. Wall Street Zen assumed coverage on Golden Ocean Group in a research note on Thursday, May 22nd. They set a “hold” rating for the company.

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.