Northern Trust Corp Buys 84,645 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Northern Trust Corp raised its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 9.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 947,740 shares of the shipping company’s stock after purchasing an additional 84,645 shares during the period. Northern Trust Corp owned 0.47% of Golden Ocean Group worth $8,492,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp grew 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 valued at $25,000 after purchasing an additional 2,391 shares during the period. Sterling Capital Management LLC boosted its stake in shares of Golden Ocean Group by 830.1% in the fourth quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company’s stock worth $35,000 after acquiring an additional 3,478 shares during the period. Quarry LP boosted its stake in shares of Golden Ocean Group by 195.3% in the fourth quarter. Quarry LP now owns 4,981 shares of the shipping company’s stock worth $45,000 after acquiring an additional 3,294 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Golden Ocean Group in the fourth quarter worth about $46,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Golden Ocean Group by 47.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,294 shares of the shipping company’s stock worth $47,000 after acquiring an additional 1,694 shares during the period. Institutional investors own 22.00% of the company’s stock.

Golden Ocean Group Stock Performance

NASDAQ GOGL opened at $8.06 on Monday. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 6.66 and a beta of 1.06. 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 business has a 50-day moving average price of $7.61 and a 200-day moving average price of $8.94. Golden Ocean Group Limited has a twelve month low of $6.27 and a twelve month high of $15.77.

Golden Ocean Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.44%. Golden Ocean Group’s dividend payout ratio is currently 53.57%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group dropped their price objective on Golden Ocean Group from $10.00 to $8.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. StockNews.com assumed coverage on Golden Ocean Group in a research note on Wednesday, May 14th. They issued a “hold” rating for the company.

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.