Golden Ocean Group Sees Unusually High Options Volume (NASDAQ:GOGL)

Golden Ocean Group Limited (NASDAQ:GOGL - Get Free Report) saw unusually large options trading activity on Thursday. Traders bought 8,524 call options on the company. This is an increase of approximately 382% compared to the average volume of 1,770 call options.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reissued a "hold" rating and issued a $10.00 target price on shares of Golden Ocean Group in a research report on Wednesday, February 26th.

Golden Ocean Group Stock Performance

GOGL traded up $0.21 on Monday, hitting $7.89. The company's stock had a trading volume of 3,184,352 shares, compared to its average volume of 1,815,726. Golden Ocean Group has a 12 month low of $7.49 and a 12 month high of $15.77. The firm has a market cap of $1.58 billion, a P/E ratio of 6.52 and a beta of 1.14. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.65. The company's 50 day simple moving average is $8.97 and its 200-day simple moving average is $10.19.

Golden Ocean Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 11th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 7.60%. The ex-dividend date of this dividend was Tuesday, March 11th. Golden Ocean Group's dividend payout ratio (DPR) is presently 53.57%.

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Institutional Trading of Golden Ocean Group

Institutional investors have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. grew its holdings in Golden Ocean Group by 74.2% during the 4th quarter. Jefferies Financial Group Inc. now owns 34,074 shares of the shipping company's stock valued at $305,000 after buying an additional 14,518 shares in the last quarter. Public Employees Retirement System of Ohio grew 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 worth $1,062,000 after buying an additional 4,198 shares in the last quarter. PharVision Advisers LLC bought a new position in Golden Ocean Group in the 4th quarter worth about $189,000. Voloridge Investment Management LLC raised its holdings in shares of Golden Ocean Group by 6.8% in the 4th quarter. Voloridge Investment Management LLC now owns 1,495,472 shares of the shipping company's stock valued at $13,399,000 after acquiring an additional 95,164 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in shares of Golden Ocean Group by 155.8% during the 4th quarter. Squarepoint Ops LLC now owns 56,864 shares of the shipping company's stock valued at $510,000 after acquiring an additional 34,636 shares during the last quarter. Hedge funds and other institutional investors own 22.00% of the company's stock.

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.