Lazard Asset Management LLC Makes New Investment in Golden Ocean Group Limited (NASDAQ:GOGL)

Lazard Asset Management LLC bought a new stake in Golden Ocean Group Limited (NASDAQ:GOGL – Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,541 shares of the shipping company’s stock, valued at approximately $149,000.

A number of other large investors also recently made changes to their positions in GOGL. VisionPoint Advisory Group LLC purchased a new stake in Golden Ocean Group in the 4th quarter valued at about $41,000. Blue Trust Inc. purchased a new stake in shares of Golden Ocean Group during the fourth quarter valued at approximately $53,000. Fifth Lane Capital LP bought a new stake in Golden Ocean Group during the first quarter worth $137,000. Quadrature Capital Ltd purchased a new position in Golden Ocean Group in the fourth quarter worth $171,000. Finally, SG Americas Securities LLC bought a new position in Golden Ocean Group in the 4th quarter valued at $243,000. 22.00% of the stock is owned by institutional investors.

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Golden Ocean Group Trading Down 3.7 %

Shares of Golden Ocean Group stock opened at $11.52 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market capitalization of $2.30 billion, a P/E ratio of 12.39 and a beta of 1.16. Golden Ocean Group Limited has a 52-week low of $6.89 and a 52-week high of $15.77. The stock’s 50-day simple moving average is $13.38 and its 200 day simple moving average is $12.93.

Golden Ocean Group (NASDAQ:GOGL – Get Free Report) last issued its earnings results on Wednesday, May 22nd. The shipping company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. Golden Ocean Group had a net margin of 19.92% and a return on equity of 8.67%. The business had revenue of $196.70 million for the quarter. As a group, research analysts anticipate that Golden Ocean Group Limited will post 1.43 EPS for the current year.

Golden Ocean Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, June 7th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.20 dividend on an annualized basis and a yield of 10.42%. Golden Ocean Group’s dividend payout ratio (DPR) is 129.03%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Golden Ocean Group from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Jefferies Financial Group downgraded shares of Golden Ocean Group from a “buy” rating to a “hold” rating and set a $15.50 target price for the company. in a research report on Wednesday, May 22nd.

View Our Latest Research Report on Golden Ocean Group

Golden Ocean Group Profile

(Free Report)

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.