Denali Advisors LLC Purchases 133,200 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Denali Advisors LLC raised its position in Golden Ocean Group Limited (NASDAQ:GOGL) by 27.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 620,490 shares of the shipping company’s stock after purchasing an additional 133,200 shares during the quarter. Denali Advisors LLC owned 0.31% of Golden Ocean Group worth $5,560,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new stake in Golden Ocean Group in the third quarter valued at $28,000. Onyx Bridge Wealth Group LLC grew its position in shares of Golden Ocean Group by 10.4% in the 4th quarter. Onyx Bridge Wealth Group LLC now owns 35,091 shares of the shipping company’s stock valued at $314,000 after buying an additional 3,315 shares during the last quarter. Quadrature Capital Ltd increased its stake in shares of Golden Ocean Group by 8.4% in the third quarter. Quadrature Capital Ltd now owns 66,760 shares of the shipping company’s stock valued at $894,000 after buying an additional 5,180 shares during the period. FMR LLC raised its position in shares of Golden Ocean Group by 146.8% during the third quarter. FMR LLC now owns 12,210 shares of the shipping company’s stock worth $163,000 after acquiring an additional 7,263 shares during the last quarter. Finally, PDT Partners LLC raised its position in shares of Golden Ocean Group by 2.7% during the third quarter. PDT Partners LLC now owns 305,470 shares of the shipping company’s stock worth $4,084,000 after acquiring an additional 8,001 shares during the last quarter. 22.00% of the stock is owned by institutional investors and hedge funds.

Golden Ocean Group Stock Up 1.1 %

Shares of NASDAQ:GOGL opened at $9.40 on Wednesday. Golden Ocean Group Limited has a 1 year low of $8.52 and a 1 year high of $15.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. The business’s 50-day moving average is $9.12 and its 200-day moving average is $10.65. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 7.77 and a beta of 1.16.

Golden Ocean Group (NASDAQ:GOGL) last issued its quarterly earnings results on Wednesday, November 27th. The shipping company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. Golden Ocean Group had a return on equity of 13.14% and a net margin of 23.89%. Equities research analysts predict that Golden Ocean Group Limited will post 1.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Jefferies Financial Group decreased their target price on shares of Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. Pareto Securities reiterated a “hold” rating and set a $12.50 price objective on shares of Golden Ocean Group in a research report on Thursday, November 21st.

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.