Navellier & Associates Inc. Buys 30,595 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Navellier & Associates Inc. boosted its stake in Golden Ocean Group Limited (NASDAQ:GOGLGet Rating) by 64.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,150 shares of the shipping company’s stock after acquiring an additional 30,595 shares during the quarter. Navellier & Associates Inc. owned 0.05% of Golden Ocean Group worth $910,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GOGL. DAVENPORT & Co LLC lifted its position in Golden Ocean Group by 11.4% during the 2nd quarter. DAVENPORT & Co LLC now owns 12,287 shares of the shipping company’s stock worth $143,000 after buying an additional 1,262 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Golden Ocean Group by 7.7% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 22,323 shares of the shipping company’s stock worth $260,000 after buying an additional 1,587 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Golden Ocean Group during the 1st quarter worth about $26,000. Avidian Wealth Solutions LLC lifted its position in Golden Ocean Group by 7.7% during the 1st quarter. Avidian Wealth Solutions LLC now owns 33,262 shares of the shipping company’s stock worth $412,000 after buying an additional 2,366 shares in the last quarter. Finally, Onyx Bridge Wealth Group LLC lifted its position in Golden Ocean Group by 23.3% during the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 17,768 shares of the shipping company’s stock worth $192,000 after buying an additional 3,353 shares in the last quarter. 38.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GOGL shares. Jefferies Financial Group cut shares of Golden Ocean Group from a “buy” rating to a “hold” rating and dropped their target price for the company from $14.00 to $10.00 in a report on Monday, September 26th. StockNews.com started coverage on shares of Golden Ocean Group in a report on Wednesday, October 12th. They issued a “hold” rating on the stock.

Golden Ocean Group Stock Performance

GOGL traded up $0.07 on Thursday, reaching $8.71. The company had a trading volume of 2,458,703 shares, compared to its average volume of 2,849,995. Golden Ocean Group Limited has a fifty-two week low of $7.24 and a fifty-two week high of $16.46. The stock has a market cap of $1.25 billion, a P/E ratio of 2.94 and a beta of 1.33. The company’s fifty day moving average is $8.63 and its 200 day moving average is $10.75. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.41 and a current ratio of 1.41.

Golden Ocean Group (NASDAQ:GOGLGet Rating) last announced its quarterly earnings results on Thursday, August 25th. The shipping company reported $0.81 EPS for the quarter. Golden Ocean Group had a net margin of 47.96% and a return on equity of 29.95%. The business had revenue of $250.04 million for the quarter. During the same quarter last year, the company posted $0.52 EPS. As a group, analysts predict that Golden Ocean Group Limited will post 1.85 earnings per share for the current fiscal year.

Golden Ocean Group Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 5th. Investors of record on Monday, November 28th will be paid a $0.35 dividend. The ex-dividend date is Friday, November 25th. This represents a $1.40 dividend on an annualized basis and a yield of 16.07%. Golden Ocean Group’s dividend payout ratio (DPR) is currently 81.08%.

Golden Ocean Group Profile

(Get Rating)

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels comprising Newcastlemax, Capesize, Panamax, and Ultramax vessels worldwide. It owns and operates dry bulk 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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