Mirabella Financial Services LLP Makes New $9.36 Million Investment in Golden Ocean Group Limited (NASDAQ:GOGL)

Mirabella Financial Services LLP purchased a new stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 700,000 shares of the shipping company's stock, valued at approximately $9,360,000. Mirabella Financial Services LLP owned about 0.35% of Golden Ocean Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOGL. Vanguard Group Inc. grew its stake in Golden Ocean Group by 273.9% in the 1st quarter. Vanguard Group Inc. now owns 5,190,885 shares of the shipping company's stock worth $67,274,000 after acquiring an additional 3,802,652 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Golden Ocean Group by 1,372.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,260,278 shares of the shipping company's stock worth $17,392,000 after acquiring an additional 1,174,716 shares during the last quarter. Marshall Wace LLP boosted its position in Golden Ocean Group by 96.9% in the second quarter. Marshall Wace LLP now owns 1,557,288 shares of the shipping company's stock valued at $21,491,000 after buying an additional 766,436 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Golden Ocean Group by 55.5% in the second quarter. Hsbc Holdings PLC now owns 1,169,814 shares of the shipping company's stock worth $16,219,000 after acquiring an additional 417,539 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of Golden Ocean Group by 42.7% during the 2nd quarter. Acadian Asset Management LLC now owns 991,898 shares of the shipping company's stock valued at $13,683,000 after buying an additional 296,842 shares during the last quarter. 22.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on GOGL. Jefferies Financial Group lowered their price target on Golden Ocean Group from $15.50 to $14.50 and set a "hold" rating on the stock in a research report on Wednesday, August 28th. StockNews.com cut Golden Ocean Group from a "buy" rating to a "hold" rating in a report on Saturday, October 5th. Finally, Pareto Securities reissued a "hold" rating and set a $12.50 price target on shares of Golden Ocean Group in a research report on Thursday.

Golden Ocean Group Stock Performance

GOGL traded down $0.06 during trading on Monday, hitting $11.08. The stock had a trading volume of 1,287,419 shares, compared to its average volume of 1,574,097. Golden Ocean Group Limited has a twelve month low of $8.42 and a twelve month high of $15.77. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.00 and a current ratio of 1.17. The company's 50-day moving average price is $11.86 and its 200 day moving average price is $12.65. The firm has a market capitalization of $2.22 billion, a P/E ratio of 10.47 and a beta of 1.20.

Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 28th. The shipping company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.04. The firm had revenue of $197.35 million for the quarter, compared to analysts' expectations of $187.74 million. Golden Ocean Group had a net margin of 22.01% and a return on equity of 10.57%. On average, equities research analysts forecast that Golden Ocean Group Limited will post 1.18 EPS for the current fiscal year.

Golden Ocean Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Wednesday, September 11th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $1.20 dividend on an annualized basis and a yield of 10.83%. Golden Ocean Group's dividend payout ratio (DPR) is 112.15%.

About Golden Ocean Group

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.