Golden Ocean Group Limited (NASDAQ:GOGL) Shares Bought by Amundi

Amundi raised its holdings in Golden Ocean Group Limited (NASDAQ:GOGL) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 353,656 shares of the shipping company’s stock after buying an additional 8,909 shares during the period. Amundi’s holdings in Golden Ocean Group were worth $3,179,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Jones Financial Companies Lllp increased its holdings in shares of Golden Ocean Group by 683.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 2,391 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Golden Ocean Group in the 3rd quarter valued at approximately $28,000. SBI Securities Co. Ltd. bought a new stake in shares of Golden Ocean Group in the 4th quarter valued at approximately $46,000. FMR LLC increased its holdings in shares of Golden Ocean Group by 146.8% in the 3rd quarter. FMR LLC now owns 12,210 shares of the shipping company’s stock valued at $163,000 after acquiring an additional 7,263 shares during the last quarter. Finally, Svenska Handelsbanken AB publ bought a new stake in shares of Golden Ocean Group in the 4th quarter valued at approximately $208,000. 22.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GOGL. Jefferies Financial Group reiterated a “hold” rating and issued a $10.00 price target on shares of Golden Ocean Group in a report on Wednesday, February 26th. Pareto Securities reiterated a “hold” rating and issued a $12.50 price target on shares of Golden Ocean Group in a report on Thursday, November 21st.

Golden Ocean Group Price Performance

Shares of GOGL opened at $7.71 on Monday. The company has a market cap of $1.54 billion, a P/E ratio of 6.37 and a beta of 1.14. The stock has a fifty day moving average price of $9.09 and a 200 day moving average price of $10.35. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. Golden Ocean Group Limited has a 12 month low of $7.49 and a 12 month high of $15.77.

Golden Ocean Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Tuesday, March 11th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a yield of 7.78%. Golden Ocean Group’s payout ratio is currently 53.57%.

Golden Ocean Group Profile

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.