Royal Bank of Canada Has $265,000 Position in Golden Ocean Group Ltd (GOGL)

Royal Bank of Canada cut its stake in shares of Golden Ocean Group Ltd (NASDAQ:GOGL) by 30.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,490 shares of the shipping company’s stock after selling 16,941 shares during the period. Royal Bank of Canada’s holdings in Golden Ocean Group were worth $265,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Folketrygdfondet grew its position in Golden Ocean Group by 4.9% during the second quarter. Folketrygdfondet now owns 6,642,402 shares of the shipping company’s stock worth $44,637,000 after buying an additional 310,880 shares in the last quarter. CarVal Investors LLC grew its stake in shares of Golden Ocean Group by 46.9% in the 2nd quarter. CarVal Investors LLC now owns 782,644 shares of the shipping company’s stock worth $5,259,000 after buying an additional 250,000 shares in the last quarter. Morgan Stanley boosted its stake in shares of Golden Ocean Group by 1,410.3% during the 1st quarter. Morgan Stanley now owns 220,374 shares of the shipping company’s stock worth $1,686,000 after purchasing an additional 205,783 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Golden Ocean Group by 82.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 346,531 shares of the shipping company’s stock worth $2,328,000 after purchasing an additional 156,706 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Golden Ocean Group by 29.3% during the 1st quarter. Bank of America Corp DE now owns 340,212 shares of the shipping company’s stock worth $2,603,000 after purchasing an additional 77,107 shares during the period. 25.04% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of Golden Ocean Group from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Monday, September 4th. Clarkson Capital lowered shares of Golden Ocean Group from a “buy” rating to a “neutral” rating in a report on Tuesday, October 17th. Nordea Equity Research upgraded shares of Golden Ocean Group from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Finally, BidaskClub upgraded shares of Golden Ocean Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $11.00.

Golden Ocean Group Ltd (NASDAQ GOGL) traded up $0.04 during mid-day trading on Wednesday, hitting $8.11. 182,782 shares of the stock traded hands, compared to its average volume of 345,877. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.94. Golden Ocean Group Ltd has a fifty-two week low of $3.95 and a fifty-two week high of $9.95.

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Golden Ocean Group Company Profile

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 (NASDAQ:GOGL)

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