Golden Ocean Group Limited (NASDAQ:GOGL) Short Interest Update

Golden Ocean Group Limited (NASDAQ:GOGLGet Free Report) was the recipient of a significant decline in short interest in March. As of March 15th, there was short interest totalling 4,990,000 shares, a decline of 5.5% from the February 29th total of 5,280,000 shares. Based on an average daily trading volume, of 1,840,000 shares, the short-interest ratio is currently 2.7 days. Currently, 4.2% of the shares of the stock are sold short.

Hedge Funds Weigh In On Golden Ocean Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc purchased a new stake in Golden Ocean Group during the second quarter worth approximately $27,000. VisionPoint Advisory Group LLC purchased a new stake in Golden Ocean Group during the second quarter worth approximately $31,000. State of Wyoming grew its stake in Golden Ocean Group by 52.8% during the fourth quarter. State of Wyoming now owns 3,517 shares of the shipping company’s stock worth $31,000 after buying an additional 1,215 shares during the period. US Bancorp DE purchased a new stake in Golden Ocean Group during the fourth quarter worth approximately $35,000. Finally, Blue Trust Inc. purchased a new stake in Golden Ocean Group during the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 22.00% of the company’s stock.

Golden Ocean Group Stock Performance

NASDAQ:GOGL opened at $12.77 on Tuesday. The firm has a 50 day simple moving average of $11.95 and a 200-day simple moving average of $9.76. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 1.05. The firm has a market cap of $2.55 billion, a PE ratio of 23.04 and a beta of 1.39. Golden Ocean Group has a 1-year low of $6.89 and a 1-year high of $13.95.

Golden Ocean Group (NASDAQ:GOGLGet Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The shipping company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. Golden Ocean Group had a net margin of 12.68% and a return on equity of 5.91%. The business had revenue of $196.75 million during the quarter, compared to analyst estimates of $187.19 million. On average, equities analysts expect that Golden Ocean Group will post 1.52 EPS for the current year.

Golden Ocean Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Wednesday, March 13th were given a dividend of $0.30 per share. This is a positive change from Golden Ocean Group’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $1.20 annualized dividend and a yield of 9.40%. Golden Ocean Group’s dividend payout ratio is 214.29%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GOGL. StockNews.com upgraded shares of Golden Ocean Group from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. BTIG Research restated a “neutral” rating on shares of Golden Ocean Group in a research report on Friday, January 5th. Finally, Jefferies Financial Group restated a “buy” rating and set a $15.00 target price on shares of Golden Ocean Group in a research report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.50.

Check Out Our Latest Stock Report on GOGL

Golden Ocean Group Company Profile

(Get Free Report)

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels worldwide. It operates dry bulk vessels comprising of Newcastlemax, Capesize, Panamax, and Ultramax vessels in the spot and time charter markets. The company's vessels transport a range of bulk commodities, such as ores, coal, grains, and fertilizers.

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