Golden Ocean Group Limited $GOGL Stock Position Lifted by Royal Bank of Canada

Royal Bank of Canada lifted its holdings in Golden Ocean Group Limited (NASDAQ:GOGL) by 3,777.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,256,806 shares of the shipping company’s stock after purchasing an additional 1,224,390 shares during the quarter. Royal Bank of Canada’s holdings in Golden Ocean Group were worth $10,029,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of GOGL. Graham Capital Management L.P. raised its stake in shares of Golden Ocean Group by 34.6% in the 1st quarter. Graham Capital Management L.P. now owns 238,614 shares of the shipping company’s stock worth $1,904,000 after buying an additional 61,364 shares in the last quarter. Vident Advisory LLC raised its stake in shares of Golden Ocean Group by 2.5% in the 1st quarter. Vident Advisory LLC now owns 116,101 shares of the shipping company’s stock worth $927,000 after buying an additional 2,825 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of Golden Ocean Group in the 1st quarter worth $1,651,000. Walleye Capital LLC bought a new stake in shares of Golden Ocean Group in the 1st quarter worth $470,000. Finally, Nuveen LLC bought a new stake in shares of Golden Ocean Group in the 1st quarter worth $3,370,000. Institutional investors own 22.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen assumed coverage on Golden Ocean Group in a research note on Thursday, May 22nd. They issued a “hold” rating on the stock. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.25.

Golden Ocean Group Price Performance

Shares of NASDAQ:GOGL opened at $7.98 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $1.59 billion, a PE ratio of 14.00 and a beta of 1.09. Golden Ocean Group Limited has a 52 week low of $6.27 and a 52 week high of $13.44. The firm has a 50 day simple moving average of $8.20 and a 200 day simple moving average of $7.93.

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.