TrueMark Investments LLC Purchases New Position in Golden Ocean Group Limited (NASDAQ:GOGL)

TrueMark Investments LLC purchased a new stake in Golden Ocean Group Limited (NASDAQ:GOGL) during the second quarter, according to its most recent filing with the SEC. The firm purchased 33,785 shares of the shipping company’s stock, valued at approximately $466,000.

A number of other hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Golden Ocean Group by 18.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,880 shares of the shipping company’s stock worth $340,000 after acquiring an additional 5,420 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Golden Ocean Group by 184.9% during the fourth quarter. Russell Investments Group Ltd. now owns 108,374 shares of the shipping company’s stock worth $1,058,000 after purchasing an additional 70,341 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Golden Ocean Group during the fourth quarter worth $488,000. Charles Schwab Investment Management Inc. boosted its position in Golden Ocean Group by 15.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,151,274 shares of the shipping company’s stock worth $11,236,000 after purchasing an additional 155,425 shares during the period. Finally, VisionPoint Advisory Group LLC bought a new position in Golden Ocean Group during the fourth quarter worth $41,000. 22.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on GOGL. Jefferies Financial Group reduced their price objective on shares of Golden Ocean Group from $15.50 to $14.50 and set a “hold” rating for the company in a research report on Wednesday. StockNews.com downgraded Golden Ocean Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th.

Golden Ocean Group Trading Down 0.5 %

GOGL stock traded down $0.06 during trading on Friday, hitting $12.30. The company had a trading volume of 1,977,122 shares, compared to its average volume of 1,640,029. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.68. Golden Ocean Group Limited has a one year low of $7.09 and a one year high of $15.77. The business has a 50-day moving average of $12.73 and a 200-day moving average of $13.12. The stock has a market cap of $2.46 billion, a PE ratio of 13.23 and a beta of 1.16.

Golden Ocean Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Wednesday, September 11th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.20 dividend on an annualized basis and a yield of 9.76%. Golden Ocean Group’s dividend payout ratio (DPR) is currently 129.03%.

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.