Golden Ocean Group Limited (NASDAQ:GOGL - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $6.48, but opened at $6.62. Golden Ocean Group shares last traded at $6.86, with a volume of 676,861 shares traded.
Wall Street Analysts Forecast Growth
Separately, Jefferies Financial Group restated a "hold" rating and issued a $10.00 price target on shares of Golden Ocean Group in a research report on Wednesday, February 26th.
Get Our Latest Analysis on Golden Ocean Group
Golden Ocean Group Stock Up 7.9 %
The firm has a 50-day moving average of $8.45 and a two-hundred day moving average of $9.70. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 6.11 and a beta of 1.10. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.65.
Golden Ocean Group Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders 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 dividend on an annualized basis and a dividend yield of 8.12%. Golden Ocean Group's dividend payout ratio is 53.57%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GOGL. GAMMA Investing LLC grew its stake in Golden Ocean Group by 373.6% in the first quarter. GAMMA Investing LLC now owns 9,903 shares of the shipping company's stock valued at $79,000 after purchasing an additional 7,812 shares in the last quarter. Jefferies Financial Group Inc. increased its holdings in Golden Ocean Group by 74.2% in the fourth quarter. Jefferies Financial Group Inc. now owns 34,074 shares of the shipping company's stock worth $305,000 after buying an additional 14,518 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Golden Ocean Group by 3.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 119,597 shares of the shipping company's stock valued at $1,062,000 after acquiring an additional 4,198 shares in the last quarter. PharVision Advisers LLC acquired a new stake in Golden Ocean Group in the fourth quarter valued at approximately $189,000. Finally, Voloridge Investment Management LLC grew its position in Golden Ocean Group by 6.8% in the fourth quarter. Voloridge Investment Management LLC now owns 1,495,472 shares of the shipping company's stock worth $13,399,000 after acquiring an additional 95,164 shares in the last quarter. 22.00% of the stock is owned by hedge funds and other institutional investors.
About Golden Ocean Group
(
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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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