Quantbot Technologies LP Boosts Stock Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Quantbot Technologies LP boosted its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 93.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 228,972 shares of the shipping company’s stock after purchasing an additional 110,745 shares during the quarter. Quantbot Technologies LP’s holdings in Golden Ocean Group were worth $3,064,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. SummerHaven Investment Management LLC increased its holdings in Golden Ocean Group by 1.1% during the 2nd quarter. SummerHaven Investment Management LLC now owns 95,615 shares of the shipping company’s stock worth $1,319,000 after purchasing an additional 1,042 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Golden Ocean Group by 3.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 43,840 shares of the shipping company’s stock worth $605,000 after purchasing an additional 1,300 shares during the last quarter. Onyx Bridge Wealth Group LLC increased its holdings in Golden Ocean Group by 6.4% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 31,776 shares of the shipping company’s stock worth $425,000 after purchasing an additional 1,917 shares during the last quarter. Sei Investments Co. increased its holdings in Golden Ocean Group by 4.1% during the 2nd quarter. Sei Investments Co. now owns 54,404 shares of the shipping company’s stock worth $751,000 after purchasing an additional 2,144 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in Golden Ocean Group by 16.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,420 shares of the shipping company’s stock worth $225,000 after purchasing an additional 2,267 shares during the last quarter. 22.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GOGL shares. Pareto Securities reiterated a “hold” rating and issued a $12.50 price target on shares of Golden Ocean Group in a report on Thursday, November 21st. Jefferies Financial Group lowered their price target on Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating for the company in a report on Wednesday. Finally, StockNews.com downgraded Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Saturday, October 5th.

Golden Ocean Group Price Performance

Shares of NASDAQ GOGL opened at $10.09 on Thursday. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 9.43 and a beta of 1.20. The business has a 50 day simple moving average of $11.78 and a 200-day simple moving average of $12.58. The company has a current ratio of 1.17, a quick ratio of 1.00 and a debt-to-equity ratio of 0.66. Golden Ocean Group Limited has a twelve month low of $8.42 and a twelve month high of $15.77.

Golden Ocean Group (NASDAQ:GOGL) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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, equities research analysts expect that Golden Ocean Group Limited will post 1.18 earnings per share for the current year.

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.