Swiss National Bank Reduces Holdings in Golden Ocean Group Limited $GOGL

Swiss National Bank decreased its position in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 1.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 253,424 shares of the shipping company’s stock after selling 4,100 shares during the period. Swiss National Bank owned about 0.13% of Golden Ocean Group worth $2,023,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MetLife Investment Management LLC grew its holdings in Golden Ocean Group by 1.7% during the 4th quarter. MetLife Investment Management LLC now owns 71,533 shares of the shipping company’s stock worth $641,000 after acquiring an additional 1,201 shares in the last quarter. State of Wyoming increased its position in shares of Golden Ocean Group by 10.3% in the 4th quarter. State of Wyoming now owns 13,596 shares of the shipping company’s stock worth $122,000 after purchasing an additional 1,268 shares during the last quarter. Deutsche Bank AG increased its position in shares of Golden Ocean Group by 0.4% in the 1st quarter. Deutsche Bank AG now owns 340,813 shares of the shipping company’s stock worth $2,720,000 after purchasing an additional 1,400 shares during the last quarter. Onyx Bridge Wealth Group LLC increased its position in shares of Golden Ocean Group by 4.5% in the 1st quarter. Onyx Bridge Wealth Group LLC now owns 36,682 shares of the shipping company’s stock worth $293,000 after purchasing an additional 1,591 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased 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 worth $47,000 after purchasing an additional 1,694 shares during the last quarter. Hedge funds and other institutional investors own 22.00% of the company’s stock.

Golden Ocean Group Stock Performance

NASDAQ GOGL opened at $7.98 on Friday. Golden Ocean Group Limited has a one year low of $6.27 and a one year high of $13.44. The company has a 50-day simple moving average of $8.11 and a 200-day simple moving average of $8.06. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $1.59 billion, a PE ratio of 14.00 and a beta of 1.09.

Golden Ocean Group (NASDAQ:GOGL) last posted 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). Golden Ocean Group had a net margin of 13.16% and a return on equity of 5.56%. The business had revenue of $115.00 million during the quarter, compared to analyst estimates of $106.48 million. On average, equities analysts forecast that Golden Ocean Group Limited will post 1.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen started coverage on shares of Golden Ocean Group in a research report on Thursday, May 22nd. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.25.

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.