Mirae Asset Global Investments Co. Ltd. Purchases Shares of 5,100 Golar LNG Limited (NASDAQ:GLNG)

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Golar LNG Limited (NASDAQ:GLNG) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,100 shares of the shipping company’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new position in Golar LNG during the third quarter valued at $32,000. Blue Trust Inc. lifted its stake in shares of Golar LNG by 105.1% in the third quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock worth $50,000 after buying an additional 703 shares in the last quarter. USA Financial Formulas purchased a new position in shares of Golar LNG in the fourth quarter worth about $61,000. CWM LLC lifted its stake in shares of Golar LNG by 830.9% in the third quarter. CWM LLC now owns 1,657 shares of the shipping company’s stock worth $61,000 after buying an additional 1,479 shares in the last quarter. Finally, Procyon Advisors LLC purchased a new position in shares of Golar LNG in the fourth quarter worth about $224,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on GLNG. StockNews.com upgraded shares of Golar LNG to a “sell” rating in a research report on Monday, December 9th. Stifel Nicolaus raised their price objective on shares of Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, December 24th. Finally, Fearnley Fonds cut shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.13.

Golar LNG Stock Performance

NASDAQ GLNG opened at $40.98 on Friday. The firm has a 50 day simple moving average of $41.77 and a 200-day simple moving average of $37.66. Golar LNG Limited has a one year low of $19.94 and a one year high of $44.36. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of 292.74 and a beta of 0.55.

About Golar LNG

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.