Golden Ocean Group Limited (NASDAQ:GOGL - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $8.08, but opened at $7.05. Golden Ocean Group shares last traded at $6.73, with a volume of 1,605,323 shares changing hands.
Wall Street Analysts Forecast Growth
Separately, Jefferies Financial Group reaffirmed a "hold" rating and set a $10.00 target price on shares of Golden Ocean Group in a research report on Wednesday, February 26th.
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Golden Ocean Group Stock Up 8.3 %
The stock's 50-day moving average price is $8.62 and its 200-day moving average price is $9.84. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 5.83 and a beta of 1.10.
Golden Ocean Group Cuts Dividend
The company also recently announced 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 was Tuesday, March 11th. This represents a $0.60 annualized dividend and a yield of 8.51%. Golden Ocean Group's payout ratio is 53.57%.
Institutional Trading of Golden Ocean Group
A number of large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its position in shares of Golden Ocean Group by 10.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 319,539 shares of the shipping company's stock valued at $4,275,000 after purchasing an additional 29,051 shares in the last quarter. 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 buying an additional 7,263 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of Golden Ocean Group by 96.3% during the 3rd quarter. Quantinno Capital Management LP now owns 19,740 shares of the shipping company's stock worth $264,000 after buying an additional 9,684 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Golden Ocean Group during the 3rd quarter worth approximately $1,543,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Golden Ocean Group by 31.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 444,453 shares of the shipping company's stock valued at $5,947,000 after acquiring an additional 106,966 shares in the last quarter. 22.00% of the stock is currently owned by institutional investors and hedge funds.
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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