85,935 Shares in Golden Ocean Group Limited (NASDAQ:GOGL) Purchased by Dakota Wealth Management

Dakota Wealth Management purchased a new stake in Golden Ocean Group Limited (NASDAQ:GOGL) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 85,935 shares of the shipping company’s stock, valued at approximately $770,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOGL. Point72 Hong Kong Ltd purchased a new stake in shares of Golden Ocean Group during the third quarter worth approximately $28,000. EverSource Wealth Advisors LLC increased its stake in Golden Ocean Group by 2,319.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 9,170 shares of the shipping company’s stock valued at $127,000 after buying an additional 8,791 shares during the period. FMR LLC raised its position in Golden Ocean Group by 146.8% during the 3rd quarter. FMR LLC now owns 12,210 shares of the shipping company’s stock worth $163,000 after buying an additional 7,263 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Golden Ocean Group by 16.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,420 shares of the shipping company’s stock worth $225,000 after acquiring an additional 2,267 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in shares of Golden Ocean Group by 96.3% in the third quarter. Quantinno Capital Management LP now owns 19,740 shares of the shipping company’s stock valued at $264,000 after acquiring an additional 9,684 shares in the last quarter. 22.00% of the stock is owned by hedge funds and other institutional investors.

Golden Ocean Group Stock Down 1.4 %

GOGL stock opened at $8.89 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. The company’s 50-day moving average price is $9.57 and its 200 day moving average price is $11.21. Golden Ocean Group Limited has a 52 week low of $8.52 and a 52 week high of $15.77. The company has a market cap of $1.78 billion, a P/E ratio of 7.35 and a beta of 1.18.

Golden Ocean Group (NASDAQ:GOGL) last announced its quarterly earnings results on Wednesday, November 27th. The shipping company reported $0.33 EPS for the quarter, topping 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%. On average, research analysts expect that Golden Ocean Group Limited will post 1.17 earnings per share for the current fiscal year.

Golden Ocean Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders 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 13.50%. The ex-dividend date of this dividend was Monday, December 9th. Golden Ocean Group’s dividend payout ratio is currently 99.17%.

Analyst Upgrades and Downgrades

GOGL has been the subject of several analyst reports. StockNews.com cut shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Saturday, October 5th. Jefferies Financial Group cut their target price on Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Finally, Pareto Securities restated a “hold” rating and issued a $12.50 price target on shares of Golden Ocean Group in a research note on Thursday, November 21st.

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.