Banque Cantonale Vaudoise trimmed its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL – Free Report) by 25.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,359 shares of the shipping company’s stock after selling 6,277 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Golden Ocean Group were worth $175,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the stock. State of Wyoming increased its position in Golden Ocean Group by 52.8% in the 4th quarter. State of Wyoming now owns 3,517 shares of the shipping company’s stock valued at $31,000 after acquiring an additional 1,215 shares during the period. SummerHaven Investment Management LLC increased its position in Golden Ocean Group by 1.8% in the 4th quarter. SummerHaven Investment Management LLC now owns 77,382 shares of the shipping company’s stock valued at $672,000 after acquiring an additional 1,337 shares during the period. Hsbc Holdings PLC increased its position in Golden Ocean Group by 5.1% in the 3rd quarter. Hsbc Holdings PLC now owns 28,828 shares of the shipping company’s stock valued at $216,000 after acquiring an additional 1,397 shares during the period. Price T Rowe Associates Inc. MD increased its position in Golden Ocean Group by 11.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 21,431 shares of the shipping company’s stock valued at $186,000 after acquiring an additional 2,162 shares during the period. Finally, ProShare Advisors LLC increased its position in Golden Ocean Group by 16.7% in the 4th quarter. ProShare Advisors LLC now owns 15,798 shares of the shipping company’s stock valued at $137,000 after acquiring an additional 2,264 shares during the period. 22.67% of the stock is currently owned by institutional investors and hedge funds.
Golden Ocean Group Trading Down 0.5 %
GOGL opened at $7.49 on Thursday. Golden Ocean Group Limited has a twelve month low of $6.99 and a twelve month high of $11.68. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.64. The company has a fifty day moving average of $7.95 and a 200-day moving average of $8.85. The stock has a market cap of $1.50 billion, a PE ratio of 4.60 and a beta of 1.24.
Golden Ocean Group Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 6th. Shareholders of record on Friday, May 26th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date was Thursday, May 25th. Golden Ocean Group’s payout ratio is 24.54%.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on GOGL shares. StockNews.com upgraded shares of Golden Ocean Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Pareto Securities upgraded shares of Golden Ocean Group from a “sell” rating to a “hold” rating in a research report on Friday, May 12th.
About Golden Ocean Group
Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels worldwide. It operates dry bulk vessels comprising of Newcastlemax, Capesize, Panamax, and Ultramax vessels in the spot and time charter markets. The company's vessels transport a range of bulk commodities, such as ores, coal, grains, and fertilizers.
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