115,399 Shares in Golden Ocean Group Limited (NASDAQ:GOGL) Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new stake in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 115,399 shares of the shipping company's stock, valued at approximately $1,543,000. Public Employees Retirement System of Ohio owned about 0.06% of Golden Ocean Group at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC boosted its position in shares of Golden Ocean Group by 1,720.1% during the second quarter. Nisa Investment Advisors LLC now owns 3,804 shares of the shipping company's stock worth $52,000 after purchasing an additional 3,595 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Golden Ocean Group by 43.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 39,958 shares of the shipping company's stock worth $551,000 after buying an additional 12,141 shares during the period. TrueMark Investments LLC bought a new position in Golden Ocean Group during the second quarter worth about $466,000. Commonwealth Equity Services LLC grew its stake in Golden Ocean Group by 55.6% in the second quarter. Commonwealth Equity Services LLC now owns 38,712 shares of the shipping company's stock valued at $534,000 after acquiring an additional 13,830 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in shares of Golden Ocean Group by 42.7% in the second quarter. Acadian Asset Management LLC now owns 991,898 shares of the shipping company's stock worth $13,683,000 after acquiring an additional 296,842 shares in the last quarter. Institutional investors and hedge funds own 22.00% of the company's stock.

Golden Ocean Group Stock Down 1.7 %

Shares of NASDAQ:GOGL traded down $0.15 during mid-day trading on Thursday, reaching $8.62. 1,362,366 shares of the stock were exchanged, compared to its average volume of 1,612,891. The company has a market cap of $1.72 billion, a P/E ratio of 7.12 and a beta of 1.16. The stock's 50 day simple moving average is $10.70 and its 200-day simple moving average is $12.00. 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 Limited has a one year low of $8.59 and a one year high of $15.77.

Golden Ocean Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 9th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 13.92%. The ex-dividend date was Monday, December 9th. Golden Ocean Group's payout ratio is 99.17%.

Analysts Set New Price Targets

GOGL has been the subject of several research analyst reports. Pareto Securities reiterated a "hold" rating and issued a $12.50 price objective on shares of Golden Ocean Group in a research report on Thursday, November 21st. StockNews.com lowered shares of Golden Ocean Group from a "buy" rating to a "hold" rating in a research note on Saturday, October 5th. Finally, Jefferies Financial Group reduced their price target on shares of Golden Ocean Group from $12.50 to $12.00 and set a "hold" rating for the company in a report on Wednesday, November 27th.

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.