Golden Ocean Group Limited (NASDAQ:GOGL - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $10.06, but opened at $9.35. Golden Ocean Group shares last traded at $8.87, with a volume of 4,487,398 shares trading hands.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on GOGL shares. Jefferies Financial Group reiterated a "hold" rating and set a $10.00 price target on shares of Golden Ocean Group in a research note on Wednesday, February 26th. Pareto Securities reiterated a "hold" rating and set a $12.50 price target on shares of Golden Ocean Group in a research note on Thursday, November 21st.
Check Out Our Latest Report on GOGL
Golden Ocean Group Trading Up 0.6 %
The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 7.25 and a beta of 1.14. The company has a fifty day moving average price of $9.20 and a 200-day moving average price of $10.50. The company has a current ratio of 1.22, a quick 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 will be paid on Friday, March 21st. Stockholders of record on Tuesday, March 11th will be issued a $0.15 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $0.60 annualized dividend and a dividend yield of 6.84%. Golden Ocean Group's dividend payout ratio (DPR) is presently 53.57%.
Hedge Funds Weigh In On Golden Ocean Group
Institutional investors and hedge funds have recently modified their holdings of the stock. US Bancorp DE raised its holdings in Golden Ocean Group by 1,127.7% in the 3rd quarter. US Bancorp DE now owns 43,632 shares of the shipping company's stock worth $584,000 after purchasing an additional 40,078 shares during the period. Summit Global Investments acquired a new position in Golden Ocean Group in the 3rd quarter worth about $436,000. Empowered Funds LLC raised its holdings in Golden Ocean Group by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 929,764 shares of the shipping company's stock worth $12,440,000 after purchasing an additional 47,302 shares during the period. Jennison Associates LLC acquired a new position in Golden Ocean Group in the 3rd quarter worth about $744,000. Finally, Intech Investment Management LLC acquired a new position in Golden Ocean Group in the 3rd quarter worth about $477,000. Institutional investors and hedge funds own 22.00% of the company's stock.
Golden Ocean Group Company Profile
(
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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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