Charles Schwab Investment Management Inc. Has $2.79 Million Stake in Golden Ocean Group Limited $GOGL

Charles Schwab Investment Management Inc. decreased its position in Golden Ocean Group Limited (NASDAQ:GOGL) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 349,159 shares of the shipping company’s stock after selling 4,075 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.17% of Golden Ocean Group worth $2,786,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. CWA Asset Management Group LLC bought a new stake in shares of Golden Ocean Group during the first quarter worth about $1,136,000. Mackenzie Financial Corp bought a new stake in shares of Golden Ocean Group in the 1st quarter worth approximately $262,000. Bank of New York Mellon Corp boosted its holdings in Golden Ocean Group by 13.2% in the 1st quarter. Bank of New York Mellon Corp now owns 1,289,226 shares of the shipping company’s stock worth $10,288,000 after buying an additional 149,978 shares during the period. Alps Advisors Inc. bought a new position in Golden Ocean Group in the 1st quarter worth approximately $368,000. Finally, SG Americas Securities LLC lifted its stake in Golden Ocean Group by 215.9% in the 1st quarter. SG Americas Securities LLC now owns 189,383 shares of the shipping company’s stock worth $1,511,000 after purchasing an additional 129,432 shares in the last quarter. Institutional investors and hedge funds 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 debt-to-equity ratio of 0.66, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50-day simple moving average is $8.13 and its 200 day simple moving average is $8.01. The firm has a market capitalization of $1.59 billion, a P/E ratio of 14.00 and a beta of 1.09.

Wall Street Analysts Forecast Growth

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