Atria Wealth Solutions Inc. Sells 10,300 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Atria Wealth Solutions Inc. reduced its stake in Golden Ocean Group Limited (NASDAQ:GOGL) by 24.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,800 shares of the shipping company’s stock after selling 10,300 shares during the period. Atria Wealth Solutions Inc.’s holdings in Golden Ocean Group were worth $285,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Point72 Hong Kong Ltd bought a new stake in shares of Golden Ocean Group in the third quarter valued at approximately $28,000. FMR LLC boosted its stake in shares of Golden Ocean Group by 146.8% in the third quarter. FMR LLC now owns 12,210 shares of the shipping company’s stock valued at $163,000 after buying an additional 7,263 shares during the period. Svenska Handelsbanken AB publ bought a new stake in shares of Golden Ocean Group in the fourth quarter valued at approximately $208,000. Quantinno Capital Management LP raised its position in Golden Ocean Group by 96.3% during the third quarter. Quantinno Capital Management LP now owns 19,740 shares of the shipping company’s stock valued at $264,000 after purchasing an additional 9,684 shares in the last quarter. Finally, Onyx Bridge Wealth Group LLC raised its position in Golden Ocean Group by 10.4% during the fourth quarter. Onyx Bridge Wealth Group LLC now owns 35,091 shares of the shipping company’s stock valued at $314,000 after purchasing an additional 3,315 shares in the last quarter. 22.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on GOGL. Jefferies Financial Group restated a “hold” rating and set a $10.00 price objective on shares of Golden Ocean Group in a research report on Wednesday. Pareto Securities restated a “hold” rating and set a $12.50 price objective on shares of Golden Ocean Group in a research report on Thursday, November 21st.

Golden Ocean Group Stock Down 1.5 %

Shares of GOGL opened at $9.70 on Friday. Golden Ocean Group Limited has a one year low of $8.52 and a one year high of $15.77. The company has a market cap of $1.94 billion, a P/E ratio of 8.02 and a beta of 1.16. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a 50 day simple moving average of $9.18 and a two-hundred day simple moving average of $10.62.

Golden Ocean Group (NASDAQ:GOGL) last announced its quarterly earnings results on Wednesday, November 27th. The shipping company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. Golden Ocean Group had a net margin of 23.89% and a return on equity of 13.14%. Research analysts forecast that Golden Ocean Group Limited will post 1.14 EPS for the current fiscal year.

Golden Ocean Group Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.60 annualized dividend and a dividend yield of 6.19%. Golden Ocean Group’s dividend payout ratio (DPR) is presently 99.17%.

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.