Skandinaviska Enskilda Banken AB publ Boosts Stake in Golden Ocean Group Limited (NASDAQ:GOGL)

Skandinaviska Enskilda Banken AB publ raised its stake in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 35.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 176,380 shares of the shipping company's stock after purchasing an additional 46,415 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.09% of Golden Ocean Group worth $1,549,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GOGL. Jones Financial Companies Lllp raised its holdings in Golden Ocean Group by 683.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company's stock worth $25,000 after purchasing an additional 2,391 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Golden Ocean Group in the 3rd quarter valued at approximately $28,000. SBI Securities Co. Ltd. purchased a new position in Golden Ocean Group in the fourth quarter worth $46,000. MQS Management LLC purchased a new stake in Golden Ocean Group during the fourth quarter worth about $120,000. Finally, FMR LLC raised its holdings in Golden Ocean Group by 146.8% during the third quarter. FMR LLC now owns 12,210 shares of the shipping company's stock worth $163,000 after purchasing an additional 7,263 shares during the last quarter. Institutional investors and hedge funds own 22.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on GOGL. 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. Jefferies Financial Group reiterated a "hold" rating and issued a $10.00 price target on shares of Golden Ocean Group in a research report on Wednesday, February 26th.

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Golden Ocean Group Trading Down 3.6 %

Shares of Golden Ocean Group stock traded down $0.29 during mid-day trading on Friday, hitting $7.68. 4,677,141 shares of the stock were exchanged, compared to its average volume of 1,811,562. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 6.35 and a beta of 1.14. 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 Limited has a twelve month low of $7.49 and a twelve month high of $15.77. The company has a 50-day simple moving average of $9.00 and a 200 day simple moving average of $10.25.

Golden Ocean Group Cuts Dividend

The firm 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 dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 7.81%. The ex-dividend date of this dividend is Tuesday, March 11th. Golden Ocean Group's dividend payout ratio (DPR) is 53.57%.

Golden Ocean Group Company Profile

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.