PDT Partners LLC Has $4.08 Million Stake in Golden Ocean Group Limited (NASDAQ:GOGL)

PDT Partners LLC lifted its stake in Golden Ocean Group Limited (NASDAQ:GOGL) by 2.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 305,470 shares of the shipping company’s stock after acquiring an additional 8,001 shares during the period. PDT Partners LLC owned 0.15% of Golden Ocean Group worth $4,084,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. raised its position in shares of Golden Ocean Group by 1,372.9% in the second quarter. Assenagon Asset Management S.A. now owns 1,260,278 shares of the shipping company’s stock valued at $17,392,000 after purchasing an additional 1,174,716 shares during the period. Empowered Funds LLC grew its stake in Golden Ocean Group by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 929,764 shares of the shipping company’s stock valued at $12,440,000 after buying an additional 47,302 shares during the last quarter. Vanguard Group Inc. raised its holdings in Golden Ocean Group by 273.9% in the 1st quarter. Vanguard Group Inc. now owns 5,190,885 shares of the shipping company’s stock worth $67,274,000 after acquiring an additional 3,802,652 shares during the period. Mirabella Financial Services LLP acquired a new position in Golden Ocean Group during the 3rd quarter worth $9,360,000. Finally, Blue Trust Inc. boosted its holdings in Golden Ocean Group by 10,268.6% during the second quarter. Blue Trust Inc. now owns 19,493 shares of the shipping company’s stock valued at $253,000 after acquiring an additional 19,305 shares during the period. 22.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on GOGL. StockNews.com lowered Golden Ocean Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th. Jefferies Financial Group dropped their price target on Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, Pareto Securities reissued a “hold” rating and issued a $12.50 price objective on shares of Golden Ocean Group in a research report on Thursday, November 21st.

Golden Ocean Group Stock Down 0.9 %

Shares of GOGL opened at $10.00 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.00 and a current ratio of 1.17. The company has a 50-day simple moving average of $11.69 and a 200-day simple moving average of $12.53. Golden Ocean Group Limited has a 52 week low of $8.42 and a 52 week high of $15.77. The firm has a market capitalization of $2.00 billion, a P/E ratio of 8.26 and a beta of 1.20.

Golden Ocean Group (NASDAQ:GOGL) last issued its quarterly earnings results on Wednesday, August 28th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.04. The firm had revenue of $197.35 million for the quarter, compared to analyst estimates of $187.74 million. Golden Ocean Group had a return on equity of 13.14% and a net margin of 23.89%. On average, equities research analysts expect that Golden Ocean Group Limited will post 1.18 earnings per share for the current year.

Golden Ocean Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 9th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 12.00%. The ex-dividend date is Monday, December 9th. Golden Ocean Group’s dividend payout ratio is presently 99.17%.

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.