Headlands Technologies LLC Takes $131,000 Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Headlands Technologies LLC purchased a new stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 16,430 shares of the shipping company’s stock, valued at approximately $131,000.

Other institutional investors and hedge funds have also modified their holdings of the company. CWM LLC grew its holdings in shares of Golden Ocean Group by 330.1% during the 1st quarter. CWM LLC now owns 3,402 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 2,611 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Golden Ocean Group by 830.1% in the fourth quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company’s stock worth $35,000 after purchasing an additional 3,478 shares in the last quarter. Quarry LP boosted its holdings in Golden Ocean Group by 195.3% in the fourth quarter. Quarry LP now owns 4,981 shares of the shipping company’s stock worth $45,000 after purchasing an additional 3,294 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Golden Ocean Group by 47.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,294 shares of the shipping company’s stock worth $47,000 after purchasing an additional 1,694 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Golden Ocean Group by 405.6% in the first quarter. Nisa Investment Advisors LLC now owns 8,100 shares of the shipping company’s stock worth $65,000 after purchasing an additional 6,498 shares in the last quarter. 22.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GOGL has been the subject of a number of recent research reports. Wall Street Zen initiated coverage on shares of Golden Ocean Group in a report on Thursday, May 22nd. They issued a “hold” rating for the company. Jefferies Financial Group decreased their price objective on shares of Golden Ocean Group from $10.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd.

Golden Ocean Group Trading Down 3.2%

Shares of NASDAQ:GOGL opened at $8.25 on Tuesday. The stock has a market capitalization of $1.65 billion, a PE ratio of 14.47 and a beta of 1.09. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.66. Golden Ocean Group Limited has a 1 year low of $6.27 and a 1 year high of $13.44. The firm has a fifty day moving average price of $8.05 and a 200 day moving average price of $8.12.

Golden Ocean Group (NASDAQ:GOGL) last released its earnings results on Wednesday, May 21st. The shipping company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.09). The firm had revenue of $115.00 million for the quarter, compared to analyst estimates of $106.48 million. Golden Ocean Group had a return on equity of 5.56% and a net margin of 13.16%. Analysts expect that Golden Ocean Group Limited will post 1.14 EPS for the current fiscal year.

Golden Ocean Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, June 5th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $0.20 dividend on an annualized basis and a yield of 2.4%. Golden Ocean Group’s payout ratio is currently 35.09%.

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.