10,803 Shares in Golden Ocean Group Limited (NASDAQ:GOGL) Purchased by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC bought a new stake in Golden Ocean Group Limited (NASDAQ:GOGL) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,803 shares of the shipping company’s stock, valued at approximately $103,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. State of Wyoming boosted its position in Golden Ocean Group by 52.8% during the fourth quarter. State of Wyoming now owns 3,517 shares of the shipping company’s stock worth $31,000 after purchasing an additional 1,215 shares during the period. MAI Capital Management lifted its position in shares of Golden Ocean Group by 6.9% during the first quarter. MAI Capital Management now owns 24,022 shares of the shipping company’s stock worth $229,000 after acquiring an additional 1,546 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of Golden Ocean Group by 2.3% in the first quarter. SummerHaven Investment Management LLC now owns 79,178 shares of the shipping company’s stock worth $754,000 after acquiring an additional 1,796 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Golden Ocean Group by 11.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,431 shares of the shipping company’s stock worth $186,000 after buying an additional 2,162 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in Golden Ocean Group by 16.7% in the 4th quarter. ProShare Advisors LLC now owns 15,798 shares of the shipping company’s stock worth $137,000 after acquiring an additional 2,264 shares during the last quarter. 19.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GOGL has been the subject of several recent analyst reports. Jefferies Financial Group cut their price objective on Golden Ocean Group from $8.50 to $8.00 and set a “hold” rating for the company in a report on Tuesday, August 29th. StockNews.com cut Golden Ocean Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Pareto Securities raised Golden Ocean Group from a “sell” rating to a “hold” rating in a research note on Friday, May 12th. BTIG Research dropped their price objective on Golden Ocean Group from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Finally, TheStreet downgraded shares of Golden Ocean Group from a “b-” rating to a “c+” rating in a research note on Thursday, August 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Golden Ocean Group has a consensus rating of “Hold” and an average target price of $9.00.

Golden Ocean Group Price Performance

GOGL opened at $7.33 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $1.47 billion, a PE ratio of 7.40 and a beta of 1.25. The stock’s 50 day moving average price is $7.48 and its 200-day moving average price is $8.37. Golden Ocean Group Limited has a 52-week low of $6.89 and a 52-week high of $10.58.

Golden Ocean Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Monday, September 11th will be issued a $0.10 dividend. The ex-dividend date is Friday, September 8th. This represents a $0.40 annualized dividend and a yield of 5.46%. Golden Ocean Group’s dividend payout ratio (DPR) is presently 40.40%.

Golden Ocean Group Profile

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels worldwide. It operates dry bulk vessels comprising of Newcastlemax, Capesize, Panamax, and Ultramax vessels in the spot and time charter markets. The company's vessels transport a range of bulk commodities, such as ores, coal, grains, and fertilizers.