55,632 Shares in Golden Ocean Group Limited (NASDAQ:GOGL) Acquired by Jennison Associates LLC

Jennison Associates LLC purchased a new position in Golden Ocean Group Limited (NASDAQ:GOGL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 55,632 shares of the shipping company’s stock, valued at approximately $744,000.

Several other institutional investors also recently bought and sold shares of GOGL. Assenagon Asset Management S.A. boosted its position in Golden Ocean Group by 1,372.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,260,278 shares of the shipping company’s stock valued at $17,392,000 after buying an additional 1,174,716 shares during the period. Sei Investments Co. bought a new stake in Golden Ocean Group in the first quarter valued at $677,000. Empowered Funds LLC increased its position in Golden Ocean Group by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 929,764 shares of the shipping company’s stock valued at $12,440,000 after purchasing an additional 47,302 shares during the period. Vanguard Group Inc. raised its holdings in Golden Ocean Group by 273.9% in the 1st quarter. Vanguard Group Inc. now owns 5,190,885 shares of the shipping company’s stock worth $67,274,000 after purchasing an additional 3,802,652 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Golden Ocean Group by 10,268.6% in the 2nd quarter. Blue Trust Inc. now owns 19,493 shares of the shipping company’s stock worth $253,000 after purchasing an additional 19,305 shares during the period. 22.00% of the stock is currently owned by hedge funds and other institutional investors.

Golden Ocean Group Trading Down 0.4 %

NASDAQ:GOGL opened at $11.14 on Friday. The firm has a market capitalization of $2.23 billion, a P/E ratio of 10.41 and a beta of 1.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 1.00. Golden Ocean Group Limited has a one year low of $8.42 and a one year high of $15.77. The company’s 50-day simple moving average is $11.86 and its 200 day simple moving average is $12.67.

Golden Ocean Group (NASDAQ:GOGL) last issued its quarterly earnings results on Wednesday, August 28th. The shipping company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The firm had revenue of $197.35 million for the quarter, compared to analysts’ expectations of $187.74 million. Golden Ocean Group had a return on equity of 10.57% and a net margin of 22.01%. As a group, analysts forecast that Golden Ocean Group Limited will post 1.18 EPS for the current fiscal year.

Golden Ocean Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Wednesday, September 11th were paid a $0.30 dividend. The ex-dividend date was Wednesday, September 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.77%. Golden Ocean Group’s dividend payout ratio is currently 112.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. StockNews.com downgraded shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th. Pareto Securities restated a “hold” rating and issued a $12.50 target price on shares of Golden Ocean Group in a research note on Thursday. Finally, Jefferies Financial Group reduced their price target on Golden Ocean Group from $15.50 to $14.50 and set a “hold” rating on the stock in a research note on Wednesday, August 28th.

Golden Ocean Group Company 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.