Golden Ocean Group Limited (NASDAQ:GOGL) Shares Acquired by Onyx Bridge Wealth Group LLC

Onyx Bridge Wealth Group LLC lifted its stake in Golden Ocean Group Limited (NASDAQ:GOGL) by 6.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 31,776 shares of the shipping company’s stock after purchasing an additional 1,917 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Golden Ocean Group were worth $425,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Quadrature Capital Ltd acquired a new position in shares of Golden Ocean Group in the fourth quarter worth about $171,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Golden Ocean Group in the 1st quarter valued at approximately $684,000. Harbour Capital Advisors LLC acquired a new position in Golden Ocean Group in the 1st quarter worth approximately $691,000. Mirae Asset Global Investments Co. Ltd. grew its position in Golden Ocean Group by 1,318.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 786,018 shares of the shipping company’s stock worth $10,187,000 after purchasing an additional 730,609 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Golden Ocean Group by 406.0% during the 1st quarter. BNP Paribas Financial Markets now owns 156,392 shares of the shipping company’s stock valued at $2,027,000 after purchasing an additional 125,484 shares during the period. Hedge funds and other institutional investors own 22.00% of the company’s stock.

Golden Ocean Group Trading Down 0.4 %

Shares of NASDAQ:GOGL opened at $11.28 on Friday. The firm has a fifty day moving average of $12.17 and a two-hundred day moving average of $13.05. The company has a quick ratio of 1.00, a current ratio of 1.17 and a debt-to-equity ratio of 0.66. Golden Ocean Group Limited has a 12-month low of $7.09 and a 12-month high of $15.77. The firm has a market capitalization of $2.26 billion, a P/E ratio of 10.54 and a beta of 1.17.

Golden Ocean Group (NASDAQ:GOGL) last released its quarterly earnings data on Wednesday, August 28th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $197.35 million during the quarter, compared to analysts’ expectations of $187.74 million. On average, equities analysts expect that Golden Ocean Group Limited will post 1.35 EPS for the current fiscal year.

Golden Ocean Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors 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 annualized dividend and a dividend yield of 10.64%. Golden Ocean Group’s payout ratio is 112.15%.

Analyst Upgrades and Downgrades

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

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.