Acadian Asset Management LLC Takes $8.93 Million Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Acadian Asset Management LLC bought a new stake in Golden Ocean Group Limited (NASDAQ:GOGL) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 695,056 shares of the shipping company’s stock, valued at approximately $8,927,000. Acadian Asset Management LLC owned about 0.35% of Golden Ocean Group as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in shares of Golden Ocean Group in the fourth quarter valued at approximately $243,000. Assenagon Asset Management S.A. acquired a new stake in Golden Ocean Group during the 4th quarter valued at $313,000. Blue Trust Inc. bought a new position in Golden Ocean Group during the fourth quarter worth $53,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Golden Ocean Group by 9.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 55,409 shares of the shipping company’s stock valued at $541,000 after purchasing an additional 4,649 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Golden Ocean Group by 18.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,880 shares of the shipping company’s stock valued at $340,000 after purchasing an additional 5,420 shares during the period. Institutional investors own 22.00% of the company’s stock.

Analyst Upgrades and Downgrades

GOGL has been the subject of several research analyst reports. StockNews.com raised shares of Golden Ocean Group from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Jefferies Financial Group cut Golden Ocean Group from a “buy” rating to a “hold” rating and set a $15.50 price objective for the company. in a report on Wednesday, May 22nd.

Golden Ocean Group Stock Performance

Shares of GOGL traded up $0.51 during midday trading on Monday, reaching $13.48. 600,018 shares of the stock were exchanged, compared to its average volume of 1,680,971. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.68. The stock’s 50 day simple moving average is $13.85 and its 200 day simple moving average is $12.78. Golden Ocean Group Limited has a twelve month low of $6.89 and a twelve month high of $15.77. The company has a market cap of $2.69 billion, a P/E ratio of 13.95 and a beta of 1.16.

Golden Ocean Group (NASDAQ:GOGL) last posted its quarterly earnings data on Wednesday, May 22nd. The shipping company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. Golden Ocean Group had a net margin of 19.92% and a return on equity of 8.67%. The firm had revenue of $196.70 million during the quarter. On average, sell-side analysts expect that Golden Ocean Group Limited will post 1.43 earnings per share for the current year.

Golden Ocean Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, June 7th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.20 dividend on an annualized basis and a yield of 8.90%. Golden Ocean Group’s dividend payout ratio (DPR) is presently 129.03%.

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.