Bank of America Corp DE cut its holdings in Golden Ocean Group Ltd (NASDAQ:GOGL) by 73.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,809 shares of the shipping company’s stock after selling 136,825 shares during the period. Bank of America Corp DE’s holdings in Golden Ocean Group were worth $306,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Northern Trust Corp increased its holdings in shares of Golden Ocean Group by 10.7% during the fourth quarter. Northern Trust Corp now owns 73,669 shares of the shipping company’s stock valued at $454,000 after purchasing an additional 7,100 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Golden Ocean Group during the fourth quarter valued at $69,000. Citigroup Inc. increased its holdings in shares of Golden Ocean Group by 207.0% during the fourth quarter. Citigroup Inc. now owns 561,672 shares of the shipping company’s stock valued at $3,396,000 after purchasing an additional 378,738 shares during the period. CarVal Investors LLC acquired a new position in shares of Golden Ocean Group during the fourth quarter valued at $2,467,000. Finally, Duff & Phelps Investment Management Co. increased its holdings in shares of Golden Ocean Group by 5.2% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 801,187 shares of the shipping company’s stock valued at $4,914,000 after purchasing an additional 39,338 shares during the period. 17.13% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently commented on GOGL. Zacks Investment Research raised Golden Ocean Group from a “sell” rating to a “hold” rating in a report on Tuesday, May 14th. BidaskClub raised Golden Ocean Group from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $10.31.

Shares of GOGL stock opened at $5.07 on Friday. Golden Ocean Group Ltd has a fifty-two week low of $4.61 and a fifty-two week high of $10.05. The stock has a market cap of $731.46 million, a P/E ratio of 8.45 and a beta of 1.92. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.58.

Golden Ocean Group (NASDAQ:GOGL) last announced its earnings results on Wednesday, May 22nd. The shipping company reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.08. Golden Ocean Group had a return on equity of 5.65% and a net margin of 12.89%. The business had revenue of $91.81 million during the quarter, compared to analysts’ expectations of $74.48 million. As a group, sell-side analysts predict that Golden Ocean Group Ltd will post -0.38 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be paid a dividend of $0.025 per share. The ex-dividend date is Wednesday, June 5th. This represents a $0.10 annualized dividend and a yield of 1.97%. Golden Ocean Group’s dividend payout ratio is currently 33.33%.

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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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Institutional Ownership by Quarter for Golden Ocean Group (NASDAQ:GOGL)

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