Custom Index Systems LLC Has $244,000 Stock Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Custom Index Systems LLC lessened its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,189 shares of the shipping company’s stock after selling 1,200 shares during the quarter. Custom Index Systems LLC’s holdings in Golden Ocean Group were worth $244,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in shares of Golden Ocean Group by 31.1% during the 4th quarter. Blue Trust Inc. now owns 52,613 shares of the shipping company’s stock worth $471,000 after acquiring an additional 12,468 shares during the period. SG Americas Securities LLC boosted its position in Golden Ocean Group by 26.7% during the fourth quarter. SG Americas Securities LLC now owns 59,951 shares of the shipping company’s stock worth $537,000 after purchasing an additional 12,647 shares during the period. Dakota Wealth Management acquired a new position in shares of Golden Ocean Group in the fourth quarter valued at $770,000. Assenagon Asset Management S.A. raised its position in shares of Golden Ocean Group by 196.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 961,367 shares of the shipping company’s stock valued at $8,614,000 after purchasing an additional 637,103 shares during the period. Finally, Harbour Capital Advisors LLC lifted its stake in shares of Golden Ocean Group by 70.6% during the 4th quarter. Harbour Capital Advisors LLC now owns 41,515 shares of the shipping company’s stock worth $378,000 after buying an additional 17,185 shares during the last quarter. Institutional investors own 22.00% of the company’s stock.

Golden Ocean Group Stock Performance

NASDAQ GOGL opened at $9.25 on Friday. Golden Ocean Group Limited has a 12-month low of $8.52 and a 12-month high of $15.77. The firm has a 50-day moving average price of $9.25 and a two-hundred day moving average price of $11.04. The company has a market capitalization of $1.85 billion, a P/E ratio of 7.64 and a beta of 1.18. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.65.

Golden Ocean Group (NASDAQ:GOGL) last issued its quarterly earnings results on Wednesday, November 27th. The shipping company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. Golden Ocean Group had a return on equity of 13.14% and a net margin of 23.89%. Analysts anticipate that Golden Ocean Group Limited will post 1.14 earnings per share for the current year.

Golden Ocean Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 9th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 12.97%. The ex-dividend date of this dividend was Monday, December 9th. Golden Ocean Group’s payout ratio is currently 99.17%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GOGL shares. Pareto Securities reissued a “hold” rating and issued a $12.50 price target on shares of Golden Ocean Group in a report on Thursday, November 21st. Jefferies Financial Group dropped their price target on Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating for the company in a report on Wednesday, November 27th. Finally, StockNews.com lowered Golden Ocean Group from a “buy” rating to a “hold” rating in a report 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.