Nisa Investment Advisors LLC Grows Stock Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Nisa Investment Advisors LLC boosted its position in Golden Ocean Group Limited (NASDAQ:GOGL) by 405.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 8,100 shares of the shipping company’s stock after buying an additional 6,498 shares during the period. Nisa Investment Advisors LLC’s holdings in Golden Ocean Group were worth $65,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MetLife Investment Management LLC boosted its holdings in shares of Golden Ocean Group by 1.7% in the fourth quarter. MetLife Investment Management LLC now owns 71,533 shares of the shipping company’s stock valued at $641,000 after acquiring an additional 1,201 shares in the last quarter. State of Wyoming raised its holdings in Golden Ocean Group by 10.3% during the fourth quarter. State of Wyoming now owns 13,596 shares of the shipping company’s stock worth $122,000 after purchasing an additional 1,268 shares in the last quarter. Onyx Bridge Wealth Group LLC lifted its position in Golden Ocean Group by 4.5% in the first quarter. Onyx Bridge Wealth Group LLC now owns 36,682 shares of the shipping company’s stock valued at $293,000 after purchasing an additional 1,591 shares during the period. Swiss National Bank boosted its holdings in Golden Ocean Group by 0.6% in the 4th quarter. Swiss National Bank now owns 257,524 shares of the shipping company’s stock valued at $2,259,000 after purchasing an additional 1,658 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Golden Ocean Group by 47.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,294 shares of the shipping company’s stock valued at $47,000 after purchasing an additional 1,694 shares in the last quarter. 22.00% of the stock is currently owned by hedge funds and other institutional investors.

Golden Ocean Group Stock Down 1.4%

Shares of NASDAQ GOGL opened at $8.23 on Friday. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 14.44 and a beta of 1.05. Golden Ocean Group Limited has a 52 week low of $6.27 and a 52 week high of $13.50. The firm has a 50-day moving average price of $7.77 and a 200 day moving average price of $8.19. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.66.

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

Golden Ocean Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Thursday, June 5th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, June 5th. This represents a $0.20 annualized dividend and a yield of 2.43%. Golden Ocean Group’s dividend payout ratio is presently 35.09%.

Wall Street Analyst Weigh In

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

About Golden Ocean Group

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.