Custom Index Systems LLC Purchases 3,026 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Custom Index Systems LLC lifted its position in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 11.9% in the third quarter, HoldingsChannel.com reports. The firm owned 28,389 shares of the shipping company’s stock after purchasing an additional 3,026 shares during the period. Custom Index Systems LLC’s holdings in Golden Ocean Group were worth $380,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of 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 buying an additional 3,802,652 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Golden Ocean Group by 1,372.9% in the second quarter. Assenagon Asset Management S.A. now owns 1,260,278 shares of the shipping company’s stock worth $17,392,000 after acquiring an additional 1,174,716 shares during the period. Marshall Wace LLP boosted its holdings in Golden Ocean Group by 96.9% in the second quarter. Marshall Wace LLP now owns 1,557,288 shares of the shipping company’s stock valued at $21,491,000 after acquiring an additional 766,436 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Golden Ocean Group by 1,318.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 786,018 shares of the shipping company’s stock valued at $10,187,000 after acquiring an additional 730,609 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Golden Ocean Group during the 1st quarter valued at $8,927,000. 22.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on GOGL. Jefferies Financial Group dropped 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 research report on Wednesday, August 28th. StockNews.com lowered shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Saturday, October 5th.

Golden Ocean Group Trading Up 1.3 %

NASDAQ GOGL opened at $10.85 on Monday. The firm has a market capitalization of $2.17 billion, a PE ratio of 10.14 and a beta of 1.17. The stock’s 50 day moving average is $12.05 and its 200 day moving average is $12.98. Golden Ocean Group Limited has a twelve month low of $7.09 and a twelve month high of $15.77. 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 (NASDAQ:GOGL) last announced its earnings results on Wednesday, August 28th. The shipping company reported $0.32 EPS for the quarter, beating 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 net margin of 22.01% and a return on equity of 10.57%. Research analysts forecast that Golden Ocean Group Limited will post 1.18 earnings per share for the current fiscal year.

Golden Ocean Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Wednesday, September 11th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 11.06%. The ex-dividend date was Wednesday, September 11th. Golden Ocean Group’s dividend payout ratio (DPR) is presently 112.15%.

About Golden Ocean Group

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.