17,535 Shares in Golden Ocean Group Limited (GOGL) Purchased by Zacks Investment Management

Zacks Investment Management bought a new position in Golden Ocean Group Limited (NASDAQ:GOGL) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 17,535 shares of the shipping company’s stock, valued at approximately $118,000.

Other large investors have also recently added to or reduced their stakes in the company. Two Sigma Securities LLC purchased a new position in shares of Golden Ocean Group Limited in the first quarter valued at $123,000. Ameriprise Financial Inc. grew its position in shares of Golden Ocean Group Limited by 10.7% in the second quarter. Ameriprise Financial Inc. now owns 19,106 shares of the shipping company’s stock valued at $128,000 after purchasing an additional 1,840 shares in the last quarter. Highbridge Capital Management LLC purchased a new position in shares of Golden Ocean Group Limited in the first quarter valued at $147,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Golden Ocean Group Limited in the first quarter valued at $168,000. Finally, WealthTrust Axiom LLC grew its position in shares of Golden Ocean Group Limited by 15.1% in the second quarter. WealthTrust Axiom LLC now owns 25,431 shares of the shipping company’s stock valued at $170,000 after purchasing an additional 3,330 shares in the last quarter. 10.51% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on GOGL shares. DNB Markets upgraded Golden Ocean Group Limited from a “hold” rating to a “buy” rating in a research report on Tuesday, July 4th. Seaport Global Securities started coverage on Golden Ocean Group Limited in a research report on Tuesday, June 13th. They issued a “buy” rating and a $10.00 price target for the company. Zacks Investment Research upgraded Golden Ocean Group Limited from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Monday, September 4th. BidaskClub cut Golden Ocean Group Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Nordea Equity Research upgraded Golden Ocean Group Limited from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Eight analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus price target of $11.00.

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Shares of Golden Ocean Group Limited (NASDAQ:GOGL) opened at 8.17 on Friday. Golden Ocean Group Limited has a 1-year low of $3.50 and a 1-year high of $9.95. The company’s 50-day moving average price is $8.82 and its 200 day moving average price is $7.47. The company’s market cap is $1.06 billion.

Golden Ocean Group Limited (NASDAQ:GOGL) last issued its quarterly earnings results on Thursday, August 17th. The shipping company reported ($0.10) earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $99.86 million during the quarter, compared to analyst estimates of $65.36 million. On average, analysts predict that Golden Ocean Group Limited will post ($0.24) earnings per share for the current fiscal year.

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)

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