Russell Investments Group Ltd. Has $2.16 Million Position in Golden Ocean Group Limited $GOGL

Russell Investments Group Ltd. reduced its position in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 28.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 270,040 shares of the shipping company’s stock after selling 105,073 shares during the period. Russell Investments Group Ltd. owned about 0.14% of Golden Ocean Group worth $2,155,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Encompass Capital Advisors LLC boosted its position in shares of Golden Ocean Group by 1,402.3% during the fourth quarter. Encompass Capital Advisors LLC now owns 1,905,407 shares of the shipping company’s stock worth $17,072,000 after buying an additional 1,778,571 shares during the period. Bridgeway Capital Management LLC raised its holdings in Golden Ocean Group by 2.1% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,651,405 shares of the shipping company’s stock worth $14,797,000 after acquiring an additional 33,241 shares in the last quarter. Voloridge Investment Management LLC raised its holdings in Golden Ocean Group by 6.8% during the fourth quarter. Voloridge Investment Management LLC now owns 1,495,472 shares of the shipping company’s stock worth $13,399,000 after acquiring an additional 95,164 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Golden Ocean Group by 13.2% during the first quarter. Bank of New York Mellon Corp now owns 1,289,226 shares of the shipping company’s stock worth $10,288,000 after acquiring an additional 149,978 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Golden Ocean Group by 9.8% during the fourth quarter. Northern Trust Corp now owns 947,740 shares of the shipping company’s stock worth $8,492,000 after acquiring an additional 84,645 shares in the last quarter. 22.00% of the stock is owned by institutional investors and hedge funds.

Golden Ocean Group Price Performance

NASDAQ:GOGL opened at $7.98 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average price is $8.11 and its two-hundred day moving average price is $8.04. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 14.00 and a beta of 1.09. Golden Ocean Group Limited has a 12-month low of $6.27 and a 12-month high of $13.44.

Analysts Set New Price Targets

Separately, Wall Street Zen initiated coverage on Golden Ocean Group in a report on Thursday, May 22nd. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Golden Ocean Group presently has an average rating of “Hold” and a consensus price target of $10.25.

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.