Barclays PLC Boosts Stock Holdings in Golden Ocean Group Limited (NASDAQ:GOGL)

Barclays PLC grew its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 13.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 766,300 shares of the shipping company's stock after buying an additional 92,358 shares during the period. Barclays PLC owned approximately 0.38% of Golden Ocean Group worth $6,865,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake in Golden Ocean Group by 229.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,139,248 shares of the shipping company's stock worth $10,208,000 after acquiring an additional 793,470 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Golden Ocean Group by 196.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 961,367 shares of the shipping company's stock worth $8,614,000 after purchasing an additional 637,103 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Golden Ocean Group by 2,893.9% in the 4th quarter. Victory Capital Management Inc. now owns 414,121 shares of the shipping company's stock valued at $3,711,000 after buying an additional 400,289 shares during the period. Prevail Innovative Wealth Advisors LLC bought a new stake in Golden Ocean Group in the 4th quarter valued at about $1,591,000. Finally, Denali Advisors LLC raised its stake in Golden Ocean Group by 27.3% during the 4th quarter. Denali Advisors LLC now owns 620,490 shares of the shipping company's stock worth $5,560,000 after buying an additional 133,200 shares during the period. Institutional investors and hedge funds own 22.00% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reduced their price objective on Golden Ocean Group from $10.00 to $8.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd.

Golden Ocean Group Stock Up 1.8 %

Shares of NASDAQ GOGL traded up $0.14 during mid-day trading on Tuesday, reaching $7.69. 1,347,328 shares of the company's stock traded hands, compared to its average volume of 2,241,425. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. The business has a 50-day simple moving average of $8.01 and a 200 day simple moving average of $9.26. The stock has a market cap of $1.54 billion, a P/E ratio of 6.35 and a beta of 1.10. Golden Ocean Group Limited has a 1-year low of $6.27 and a 1-year high of $15.77.

Golden Ocean Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.15 per share. The ex-dividend date was Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a yield of 7.81%. Golden Ocean Group's dividend payout ratio (DPR) 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.