Golden Ocean Group Limited (NASDAQ:GOGL - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Saturday . The stock traded as low as $6.37 and last traded at $6.48, with a volume of 12278076 shares changing hands. The stock had previously closed at $8.08.
Wall Street Analysts Forecast Growth
Separately, Jefferies Financial Group reiterated a "hold" rating and set a $10.00 price objective on shares of Golden Ocean Group in a research report on Wednesday, February 26th.
View Our Latest Stock Analysis on GOGL
Golden Ocean Group Stock Performance
The firm has a market cap of $1.39 billion, a PE ratio of 5.72 and a beta of 1.10. The stock has a 50-day moving average price of $8.53 and a 200 day moving average price of $9.79. 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 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 issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 8.66%. Golden Ocean Group's dividend payout ratio (DPR) is presently 53.57%.
Institutional Investors Weigh In On Golden Ocean Group
A number of institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its holdings in shares of Golden Ocean Group by 683.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company's stock worth $25,000 after purchasing an additional 2,391 shares during the period. Sterling Capital Management LLC grew its stake in Golden Ocean Group by 830.1% during the fourth quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company's stock worth $35,000 after buying an additional 3,478 shares during the period. Quarry LP increased its position in shares of Golden Ocean Group by 195.3% in the fourth quarter. Quarry LP now owns 4,981 shares of the shipping company's stock worth $45,000 after acquiring an additional 3,294 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Golden Ocean Group in the 4th quarter valued at $46,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Golden Ocean Group by 47.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,294 shares of the shipping company's stock valued at $47,000 after acquiring an additional 1,694 shares in the last quarter. Hedge funds and other institutional investors own 22.00% of the company's stock.
Golden Ocean Group Company Profile
(
Get Free Report)
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.
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