Cibc World Markets Corp Acquires New Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Cibc World Markets Corp acquired a new stake in Golden Ocean Group Limited (NASDAQ:GOGL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,388 shares of the shipping company’s stock, valued at approximately $102,000.

Other institutional investors have also bought and sold shares of the company. Intech Investment Management LLC acquired a new stake in shares of Golden Ocean Group in the third quarter valued at approximately $477,000. Charles Schwab Investment Management Inc. increased its stake in shares of Golden Ocean Group by 10.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 319,539 shares of the shipping company’s stock worth $4,275,000 after acquiring an additional 29,051 shares during the last quarter. Quantbot Technologies LP raised its holdings in shares of Golden Ocean Group by 93.7% during the 3rd quarter. Quantbot Technologies LP now owns 228,972 shares of the shipping company’s stock worth $3,064,000 after acquiring an additional 110,745 shares during the period. FMR LLC boosted its position in shares of Golden Ocean Group by 146.8% during 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, BNP Paribas Financial Markets grew its holdings in shares of Golden Ocean Group by 16.6% in the third quarter. BNP Paribas Financial Markets now owns 123,048 shares of the shipping company’s stock valued at $1,646,000 after purchasing an additional 17,553 shares during the period. 22.00% of the stock is owned by hedge funds and other institutional investors.

Golden Ocean Group Price Performance

NASDAQ:GOGL opened at $8.14 on Friday. Golden Ocean Group Limited has a 52 week low of $7.49 and a 52 week high of $15.77. The stock’s fifty day moving average is $8.87 and its two-hundred day moving average is $10.12. The company has a market capitalization of $1.63 billion, a P/E ratio of 6.73 and a beta of 1.14. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.65.

Golden Ocean Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.60 annualized dividend and a yield of 7.37%. Golden Ocean Group’s dividend payout ratio (DPR) is currently 53.57%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reaffirmed a “hold” rating and set a $10.00 target price on shares of Golden Ocean Group in a research note on Wednesday, February 26th.

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.