WealthTrust Axiom LLC Has $131,000 Stock Position in Golden Ocean Group Limited (NASDAQ:GOGL)

WealthTrust Axiom LLC cut its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 23.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,416 shares of the shipping company’s stock after selling 4,000 shares during the period. WealthTrust Axiom LLC’s holdings in Golden Ocean Group were worth $131,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. bought a new stake in Golden Ocean Group during the 4th quarter worth $53,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Golden Ocean Group by 39.9% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 16,405 shares of the shipping company’s stock worth $129,000 after purchasing an additional 4,678 shares during the period. Commonwealth Equity Services LLC increased its holdings in Golden Ocean Group by 64.1% in the third quarter. Commonwealth Equity Services LLC now owns 17,626 shares of the shipping company’s stock valued at $139,000 after purchasing an additional 6,884 shares during the period. Principal Financial Group Inc. grew its position in shares of Golden Ocean Group by 39.3% in the 3rd quarter. Principal Financial Group Inc. now owns 18,219 shares of the shipping company’s stock valued at $144,000 after buying an additional 5,142 shares during the last quarter. Finally, Axxcess Wealth Management LLC grew its position in shares of Golden Ocean Group by 133.6% in the 3rd quarter. Axxcess Wealth Management LLC now owns 29,174 shares of the shipping company’s stock valued at $230,000 after buying an additional 16,684 shares during the last quarter. 22.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on GOGL. BTIG Research reiterated a “neutral” rating on shares of Golden Ocean Group in a research report on Friday, January 5th. StockNews.com raised Golden Ocean Group from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $15.00 price objective on shares of Golden Ocean Group in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.50.

Golden Ocean Group Stock Up 1.6 %

Shares of NASDAQ:GOGL opened at $14.09 on Wednesday. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 25.16 and a beta of 1.39. 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 business’s 50-day moving average is $12.96 and its 200-day moving average is $10.55. Golden Ocean Group Limited has a 1 year low of $6.89 and a 1 year high of $14.16.

Golden Ocean Group (NASDAQ:GOGL) last announced its quarterly earnings data on Wednesday, February 28th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. Golden Ocean Group had a return on equity of 5.91% and a net margin of 12.68%. The company had revenue of $196.75 million for the quarter, compared to the consensus estimate of $187.19 million. Equities research analysts predict that Golden Ocean Group Limited will post 1.52 earnings per share for the current year.

Golden Ocean Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Wednesday, March 13th were issued a dividend of $0.30 per share. This is an increase from Golden Ocean Group’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, March 12th. This represents a $1.20 annualized dividend and a dividend yield of 8.52%. Golden Ocean Group’s payout ratio is currently 214.29%.

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.