Golden Ocean Group Limited $GOGL Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. cut its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 41.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,500 shares of the shipping company’s stock after selling 13,300 shares during the period. Atria Wealth Solutions Inc.’s holdings in Golden Ocean Group were worth $148,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CWM LLC lifted its stake in Golden Ocean Group by 330.1% during the first quarter. CWM LLC now owns 3,402 shares of the shipping company’s stock valued at $27,000 after purchasing an additional 2,611 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of Golden Ocean Group by 830.1% in the 4th quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company’s stock valued at $35,000 after acquiring an additional 3,478 shares in the last quarter. Quarry LP lifted its position in shares of Golden Ocean Group by 195.3% in the 4th quarter. Quarry LP now owns 4,981 shares of the shipping company’s stock valued at $45,000 after acquiring an additional 3,294 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Golden Ocean Group by 47.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,294 shares of the shipping company’s stock valued at $47,000 after acquiring an additional 1,694 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Golden Ocean Group by 405.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 8,100 shares of the shipping company’s stock valued at $65,000 after acquiring an additional 6,498 shares in the last quarter. 22.00% of the stock is owned by institutional investors and hedge funds.

Golden Ocean Group Stock Up 3.0%

Golden Ocean Group stock opened at $8.00 on Monday. The firm’s 50 day moving average price is $8.09 and its two-hundred day moving average price is $8.09. Golden Ocean Group Limited has a twelve month low of $6.27 and a twelve month high of $13.44. The firm has a market cap of $1.60 billion, a PE ratio of 14.04 and a beta of 1.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.81 and a current ratio of 0.81.

Golden Ocean Group (NASDAQ:GOGL) last announced its quarterly earnings results on Wednesday, May 21st. The shipping company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.09). The business had revenue of $115.00 million for the quarter, compared to analyst estimates of $106.48 million. Golden Ocean Group had a return on equity of 5.56% and a net margin of 13.16%. On average, research analysts predict that Golden Ocean Group Limited will post 1.14 EPS for the current fiscal year.

Golden Ocean Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, June 5th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $0.20 dividend on an annualized basis and a yield of 2.5%. Golden Ocean Group’s dividend payout ratio is 35.09%.

Wall Street Analyst Weigh In

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

Golden Ocean Group Company 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.