Mirae Asset Global Investments Co. Ltd. Acquires 4,649 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Mirae Asset Global Investments Co. Ltd. grew its position in Golden Ocean Group Limited (NASDAQ:GOGL) by 9.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,409 shares of the shipping company’s stock after purchasing an additional 4,649 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Golden Ocean Group were worth $541,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GOGL. Blue Trust Inc. acquired a new stake in Golden Ocean Group in the fourth quarter worth $53,000. Vanguard Personalized Indexing Management LLC raised its holdings in Golden Ocean Group by 39.9% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 16,405 shares of the shipping company’s stock worth $129,000 after purchasing an additional 4,678 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Golden Ocean Group by 64.1% during the third quarter. Commonwealth Equity Services LLC now owns 17,626 shares of the shipping company’s stock worth $139,000 after acquiring an additional 6,884 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Golden Ocean Group by 39.3% during the third quarter. Principal Financial Group Inc. now owns 18,219 shares of the shipping company’s stock worth $144,000 after acquiring an additional 5,142 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its position in shares of Golden Ocean Group by 133.6% during the third quarter. Axxcess Wealth Management LLC now owns 29,174 shares of the shipping company’s stock worth $230,000 after acquiring an additional 16,684 shares in the last quarter. 22.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOGL has been the subject of several research reports. Jefferies Financial Group reissued a “buy” rating and set a $15.00 price objective on shares of Golden Ocean Group in a research report on Wednesday, February 28th. StockNews.com raised shares of Golden Ocean Group from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. Finally, BTIG Research reissued a “neutral” rating on shares of Golden Ocean Group in a research report on Friday, January 5th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $12.50.

Golden Ocean Group Stock Up 1.7 %

Golden Ocean Group stock opened at $13.82 on Friday. The company has a market cap of $2.76 billion, a P/E ratio of 24.68 and a beta of 1.39. Golden Ocean Group Limited has a 1-year low of $6.89 and a 1-year high of $13.95. The company has a fifty day simple moving average of $12.77 and a 200 day simple moving average of $10.39. The company has a current ratio of 1.23, a quick ratio of 1.05 and a debt-to-equity ratio of 0.69.

Golden Ocean Group (NASDAQ:GOGL) last released its earnings results on Wednesday, February 28th. The shipping company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. The business had revenue of $196.75 million during the quarter, compared to the consensus estimate of $187.19 million. Golden Ocean Group had a net margin of 12.68% and a return on equity of 5.91%. Research analysts anticipate that Golden Ocean Group Limited will post 1.52 earnings per share for the current fiscal year.

Golden Ocean Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Wednesday, March 13th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.68%. The ex-dividend date was Tuesday, March 12th. This is an increase from Golden Ocean Group’s previous quarterly dividend of $0.10. Golden Ocean Group’s dividend payout ratio (DPR) is 214.29%.

Golden Ocean Group 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.