25,000 Shares in Golden Ocean Group Limited (NASDAQ:GOGL) Acquired by X Square Capital LLC

X Square Capital LLC bought a new position in shares of Golden Ocean Group Limited (NASDAQ:GOGL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 25,000 shares of the shipping company’s stock, valued at approximately $335,000.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Golden Ocean Group by 273.9% during the first quarter. Vanguard Group Inc. now owns 5,190,885 shares of the shipping company’s stock worth $67,274,000 after purchasing an additional 3,802,652 shares during the period. Bridgeway Capital Management LLC grew its stake in Golden Ocean Group by 15.7% during the first quarter. Bridgeway Capital Management LLC now owns 1,557,322 shares of the shipping company’s stock worth $20,183,000 after purchasing an additional 211,629 shares during the period. Marshall Wace LLP grew its stake in Golden Ocean Group by 96.9% during the second quarter. Marshall Wace LLP now owns 1,557,288 shares of the shipping company’s stock worth $21,491,000 after purchasing an additional 766,436 shares during the period. Assenagon Asset Management S.A. grew its stake in Golden Ocean Group by 1,372.9% during the second quarter. Assenagon Asset Management S.A. now owns 1,260,278 shares of the shipping company’s stock worth $17,392,000 after purchasing an additional 1,174,716 shares during the period. Finally, Hsbc Holdings PLC grew its stake in Golden Ocean Group by 55.5% in the second quarter. Hsbc Holdings PLC now owns 1,169,814 shares of the shipping company’s stock valued at $16,219,000 after acquiring an additional 417,539 shares during the period. Institutional investors and hedge funds own 22.00% of the company’s stock.

Golden Ocean Group Stock Down 2.0 %

GOGL stock opened at $10.70 on Thursday. Golden Ocean Group Limited has a twelve month low of $7.09 and a twelve month high of $15.77. The company has a quick ratio of 1.00, a current ratio of 1.17 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average is $12.10 and its 200-day moving average is $13.01. The firm has a market capitalization of $2.14 billion, a PE ratio of 10.00 and a beta of 1.17.

Golden Ocean Group (NASDAQ:GOGL) last posted its earnings results on Wednesday, August 28th. The shipping company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. Golden Ocean Group had a return on equity of 10.57% and a net margin of 22.01%. The company had revenue of $197.35 million for the quarter, compared to analyst estimates of $187.74 million. Sell-side analysts expect that Golden Ocean Group Limited will post 1.35 EPS for the current fiscal year.

Golden Ocean Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Wednesday, September 11th were issued a $0.30 dividend. The ex-dividend date was Wednesday, September 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 11.21%. Golden Ocean Group’s dividend payout ratio is presently 112.15%.

Analysts Set New Price Targets

A number of brokerages have commented on GOGL. Jefferies Financial Group reduced their price objective on Golden Ocean Group from $15.50 to $14.50 and set a “hold” rating for the company in a research note on Wednesday, August 28th. StockNews.com cut Golden Ocean Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th.

Golden Ocean Group 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.