JustInvest LLC purchased a new stake in Golden Ocean Group Ltd (NASDAQ:GOGL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 13,983 shares of the shipping company’s stock, valued at approximately $54,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its position in Golden Ocean Group by 645.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,111,018 shares of the shipping company’s stock valued at $12,265,000 after purchasing an additional 1,827,708 shares in the last quarter. Royal Bank of Canada increased its position in shares of Golden Ocean Group by 198.0% during the 1st quarter. Royal Bank of Canada now owns 567,405 shares of the shipping company’s stock valued at $1,776,000 after purchasing an additional 377,010 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Golden Ocean Group by 225.4% during the 1st quarter. Citigroup Inc. now owns 403,111 shares of the shipping company’s stock valued at $1,264,000 after buying an additional 279,217 shares in the last quarter. Invesco Ltd. bought a new stake in Golden Ocean Group in the 1st quarter worth approximately $801,000. Finally, GSA Capital Partners LLP purchased a new stake in Golden Ocean Group in the first quarter worth approximately $465,000. Hedge funds and other institutional investors own 16.56% of the company’s stock.
A number of equities research analysts have recently weighed in on GOGL shares. DNB Markets upgraded shares of Golden Ocean Group from a “hold” rating to a “buy” rating in a report on Wednesday. TheStreet cut shares of Golden Ocean Group from a “c-” rating to a “d” rating in a research report on Monday, June 8th. Pareto Securities upgraded shares of Golden Ocean Group from a “hold” rating to a “buy” rating in a research report on Tuesday, April 28th. Kepler Capital Markets downgraded Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 6th. Finally, ValuEngine raised Golden Ocean Group from a “sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold”.
NASDAQ:GOGL opened at $3.84 on Friday. The firm has a market capitalization of $548.75 million, a P/E ratio of 23.94 and a beta of 1.72. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.68. The company has a fifty day moving average of $3.88 and a 200 day moving average of $3.79. Golden Ocean Group Ltd has a 52 week low of $2.52 and a 52 week high of $6.67.
Golden Ocean Group (NASDAQ:GOGL) last released its quarterly earnings data on Wednesday, May 27th. The shipping company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). The firm had revenue of $77.16 million during the quarter. Golden Ocean Group had a negative net margin of 16.20% and a positive return on equity of 1.56%.
Golden Ocean Group Company Profile
Golden Ocean Group Limited, a shipping company, engages in the transportation of bulk commodities worldwide. It owns and operates a fleet of dry bulk vessels, including Newcastlemax, Capesize, Panamax, and Ultramax vessels in the spot and time charter markets. The company transports bulk commodities, such as ores, coal, grains, and fertilizers.
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