Golden Ocean Group Limited (GOGL) Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. cut its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 62.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,924 shares of the shipping company’s stock after selling 116,084 shares during the period. Goldman Sachs Group Inc. owned about 0.06% of Golden Ocean Group Limited worth $527,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Citadel Advisors LLC bought a new stake in shares of Golden Ocean Group Limited during the first quarter valued at approximately $308,000. Morgan Stanley increased its stake in shares of Golden Ocean Group Limited by 1,410.3% in the first quarter. Morgan Stanley now owns 220,374 shares of the shipping company’s stock valued at $1,686,000 after buying an additional 205,783 shares during the last quarter. UBS Group AG increased its stake in shares of Golden Ocean Group Limited by 258.3% in the first quarter. UBS Group AG now owns 365,366 shares of the shipping company’s stock valued at $2,795,000 after buying an additional 263,384 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Golden Ocean Group Limited by 37.0% in the first quarter. Dimensional Fund Advisors LP now owns 189,825 shares of the shipping company’s stock valued at $1,452,000 after buying an additional 51,269 shares during the last quarter. Finally, CarVal Investors LLC bought a new stake in shares of Golden Ocean Group Limited during the first quarter valued at approximately $4,075,000. 11.93% of the stock is currently owned by institutional investors and hedge funds.

Golden Ocean Group Limited (NASDAQ:GOGL) traded up 1.0333% during midday trading on Monday, reaching $8.7899. The company’s stock had a trading volume of 95,415 shares. The stock has a 50 day moving average of $7.26 and a 200 day moving average of $6.89. Golden Ocean Group Limited has a 52 week low of $3.40 and a 52 week high of $9.05. The firm’s market capitalization is $1.16 billion.

Golden Ocean Group Limited (NASDAQ:GOGL) last announced its earnings results on Thursday, August 17th. The shipping company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.03. Golden Ocean Group Limited had a negative return on equity of 3.91% and a negative net margin of 14.69%. The firm had revenue of $99.86 million during the quarter, compared to the consensus estimate of $65.36 million. On average, equities research analysts predict that Golden Ocean Group Limited will post ($0.37) earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This article was first reported by Transcript Daily and is the property of of Transcript Daily. If you are reading this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The correct version of this article can be read at https://transcriptdaily.com/2017/08/21/golden-ocean-group-limited-gogl-shares-sold-by-goldman-sachs-group-inc.html.

Several equities research analysts recently commented on GOGL shares. DNB Markets upgraded Golden Ocean Group Limited from a “hold” rating to a “buy” rating in a report on Tuesday, July 4th. Zacks Investment Research downgraded Golden Ocean Group Limited from a “hold” rating to a “sell” rating in a report on Wednesday, June 28th. Seaport Global Securities started coverage on Golden Ocean Group Limited in a report on Tuesday, June 13th. They set a “buy” rating and a $10.00 target price on the stock. BidaskClub downgraded Golden Ocean Group Limited from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Nordea Equity Research upgraded Golden Ocean Group Limited from a “hold” rating to a “buy” rating in a report on Friday. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Golden Ocean Group Limited has an average rating of “Buy” and an average price target of $8.75.

About Golden Ocean Group Limited

Golden Ocean Group Limited, formerly Knightsbridge Shipping Limited, is an international dry bulk shipping company. The Company is engaged in the transportation of dry bulk cargoes. It owns and operates a fleet of dry bulk carrier vessels, focusing on the Capesize, Panamax and Supramax markets. Its vessels transport a range of major and minor bulk commodities, including ores, coal, grains and fertilizers.

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

Receive News & Ratings for Golden Ocean Group Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golden Ocean Group Limited and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply