Golden Ocean Group Limited (NASDAQ:GOGL) Shares Bought by Empowered Funds LLC

Empowered Funds LLC lifted its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 5.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 929,764 shares of the shipping company’s stock after acquiring an additional 47,302 shares during the period. Empowered Funds LLC owned 0.46% of Golden Ocean Group worth $12,440,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in shares of Golden Ocean Group by 1,720.1% in the second quarter. Nisa Investment Advisors LLC now owns 3,804 shares of the shipping company’s stock valued at $52,000 after buying an additional 3,595 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Golden Ocean Group by 2,319.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 9,170 shares of the shipping company’s stock worth $127,000 after purchasing an additional 8,791 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Golden Ocean Group during the first quarter worth $149,000. Bayesian Capital Management LP purchased a new stake in shares of Golden Ocean Group in the first quarter valued at $151,000. Finally, Vanguard Personalized Indexing Management LLC increased its stake in Golden Ocean Group by 16.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,420 shares of the shipping company’s stock valued at $225,000 after purchasing an additional 2,267 shares during the last quarter. Hedge funds and other institutional investors own 22.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on GOGL. StockNews.com cut Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Saturday, October 5th. Jefferies Financial Group lowered their target price on shares of Golden Ocean Group from $15.50 to $14.50 and set a “hold” rating for the company in a report on Wednesday, August 28th.

Golden Ocean Group Price Performance

GOGL stock opened at $12.09 on Friday. The company has a market cap of $2.42 billion, a PE ratio of 11.19 and a beta of 1.20. The company has a current ratio of 1.17, a quick ratio of 1.00 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average price of $11.80 and a two-hundred day moving average price of $12.80. Golden Ocean Group Limited has a 12-month low of $7.51 and a 12-month high of $15.77.

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

Golden Ocean Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Wednesday, September 11th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $1.20 annualized dividend and a yield of 9.93%. Golden Ocean Group’s dividend payout ratio is currently 112.15%.

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.