Vanguard Group Inc. Has $50.98 Million Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Vanguard Group Inc. increased its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,798,672 shares of the shipping company's stock after acquiring an additional 71,918 shares during the period. Vanguard Group Inc. owned about 2.90% of Golden Ocean Group worth $50,978,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOGL. Jones Financial Companies Lllp increased its stake in 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 buying an additional 2,391 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Golden Ocean Group during the 4th quarter worth approximately $46,000. Cibc World Markets Corp bought a new stake in shares of Golden Ocean Group during the 4th quarter worth approximately $102,000. MQS Management LLC bought a new position in shares of Golden Ocean Group in the fourth quarter valued at $120,000. Finally, FMR LLC lifted its stake in Golden Ocean Group by 146.8% in the third 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. 22.00% of the stock is owned by institutional investors and hedge funds.

Golden Ocean Group Price Performance

Golden Ocean Group stock traded up $0.10 during mid-day trading on Thursday, reaching $7.13. 257,324 shares of the company were exchanged, compared to its average volume of 3,755,917. 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 $6.27 and a 12 month high of $15.77. The firm has a market cap of $1.43 billion, a PE ratio of 5.89 and a beta of 1.10. The company has a fifty day simple moving average of $8.32 and a 200-day simple moving average of $9.60.

Golden Ocean Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 8.42%. The ex-dividend date of this dividend was Tuesday, March 11th. Golden Ocean Group's dividend payout ratio is currently 53.57%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reiterated a "hold" rating and issued a $10.00 price target 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.