Golden Ocean Group Ltd (NASDAQ:GOGL) Stock Position Lessened by Wellington Management Group LLP

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Wellington Management Group LLP lowered its position in shares of Golden Ocean Group Ltd (NASDAQ:GOGL) by 23.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,400 shares of the shipping company’s stock after selling 29,300 shares during the quarter. Wellington Management Group LLP owned 0.07% of Golden Ocean Group worth $299,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its stake in Golden Ocean Group by 26.0% during the fourth quarter. Renaissance Technologies LLC now owns 3,070,737 shares of the shipping company’s stock valued at $17,841,000 after buying an additional 634,356 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Golden Ocean Group by 645.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,111,018 shares of the shipping company’s stock valued at $12,265,000 after buying an additional 1,827,708 shares in the last quarter. Citigroup Inc. boosted its stake in Golden Ocean Group by 225.4% during the first quarter. Citigroup Inc. now owns 403,111 shares of the shipping company’s stock valued at $1,264,000 after buying an additional 279,217 shares in the last quarter. Swiss National Bank boosted its stake in Golden Ocean Group by 2.9% during the fourth quarter. Swiss National Bank now owns 165,705 shares of the shipping company’s stock valued at $962,000 after buying an additional 4,637 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in Golden Ocean Group during the first quarter valued at about $465,000. 16.56% of the stock is owned by institutional investors and hedge funds.

Shares of Golden Ocean Group stock opened at $3.88 on Wednesday. The stock has a 50-day moving average price of $3.57 and a 200 day moving average price of $4.07. The company has a market cap of $547.33 million, a P/E ratio of -4.85 and a beta of 1.71. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.68. Golden Ocean Group Ltd has a 1 year low of $2.52 and a 1 year high of $6.92.

Golden Ocean Group (NASDAQ:GOGL) last announced its quarterly earnings data on Wednesday, May 27th. The shipping company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.06). The business had revenue of $77.16 million during the quarter. Golden Ocean Group had a positive return on equity of 1.56% and a negative net margin of 16.20%.

Several brokerages have recently commented on GOGL. Kepler Capital Markets downgraded Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 6th. TheStreet downgraded Golden Ocean Group from a “c-” rating to a “d” rating in a report on Monday, June 8th. ValuEngine downgraded Golden Ocean Group from a “hold” rating to a “sell” rating in a report on Thursday, May 7th. Pareto Securities raised Golden Ocean Group from a “hold” rating to a “buy” rating in a report on Tuesday, April 28th. Finally, BidaskClub raised Golden Ocean Group from a “hold” rating to a “buy” rating in a report on Wednesday, June 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Golden Ocean Group presently has an average rating of “Hold”.

Golden Ocean Group Company Profile

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

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Institutional Ownership by Quarter for Golden Ocean Group (NASDAQ:GOGL)

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