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

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 9.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,409 shares of the shipping company’s stock after acquiring an additional 4,649 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Golden Ocean Group were worth $541,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. bought a new stake in Golden Ocean Group during the 4th quarter worth approximately $53,000. Vanguard Personalized Indexing Management LLC lifted its position in shares of Golden Ocean Group by 39.9% in the 3rd 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 lifted its position in shares of Golden Ocean Group by 64.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 17,626 shares of the shipping company’s stock worth $139,000 after purchasing an additional 6,884 shares during the period. Principal Financial Group Inc. lifted its position in shares of Golden Ocean Group by 39.3% in the 3rd quarter. Principal Financial Group Inc. now owns 18,219 shares of the shipping company’s stock worth $144,000 after purchasing an additional 5,142 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Golden Ocean Group in the 4th quarter worth approximately $243,000. 22.00% of the stock is owned by institutional investors.

Golden Ocean Group Stock Up 1.7 %

Golden Ocean Group stock opened at $13.82 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.23 and a debt-to-equity ratio of 0.69. Golden Ocean Group Limited has a 12-month low of $6.89 and a 12-month high of $13.95. The firm’s fifty day moving average is $12.77 and its 200 day moving average is $10.39. The company has a market capitalization of $2.76 billion, a PE ratio of 24.68 and a beta of 1.39.

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

Golden Ocean Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Wednesday, March 13th were paid a $0.30 dividend. This is a positive change from Golden Ocean Group’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $1.20 annualized dividend and a dividend yield of 8.68%. Golden Ocean Group’s dividend payout ratio is presently 214.29%.

Analysts Set New Price Targets

GOGL has been the topic of a number of recent analyst reports. BTIG Research restated a “neutral” rating on shares of Golden Ocean Group in a research report on Friday, January 5th. StockNews.com upgraded shares of Golden Ocean Group from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $15.00 price target on shares of Golden Ocean Group in a research report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.50.

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.