MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Stock Position in Golden Ocean Group Limited (NASDAQ:GOGL)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 2.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,525 shares of the shipping company’s stock after acquiring an additional 2,078 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.05% of Golden Ocean Group worth $965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. MetLife Investment Management LLC raised its stake in shares of Golden Ocean Group by 1.7% during the fourth quarter. MetLife Investment Management LLC now owns 71,533 shares of the shipping company’s stock valued at $641,000 after acquiring an additional 1,201 shares during the last quarter. Swiss National Bank increased its holdings in Golden Ocean Group by 0.6% during the 4th quarter. Swiss National Bank now owns 257,524 shares of the shipping company’s stock valued at $2,259,000 after purchasing an additional 1,658 shares during the period. Tower Research Capital LLC TRC raised its position in Golden Ocean Group by 47.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,294 shares of the shipping company’s stock valued at $47,000 after purchasing an additional 1,694 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Golden Ocean Group by 683.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company’s stock worth $25,000 after buying an additional 2,391 shares during the period. Finally, Commonwealth Equity Services LLC grew its position in shares of Golden Ocean Group by 9.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 36,786 shares of the shipping company’s stock worth $330,000 after buying an additional 3,106 shares during the last quarter. 22.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GOGL. Jefferies Financial Group cut their price target on shares of Golden Ocean Group from $10.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen started coverage on Golden Ocean Group in a research report on Thursday, May 22nd. They issued a “hold” rating for the company.

Golden Ocean Group Stock Performance

Shares of Golden Ocean Group stock opened at $7.23 on Tuesday. Golden Ocean Group Limited has a 12 month low of $6.27 and a 12 month high of $14.82. The firm has a market capitalization of $1.45 billion, a P/E ratio of 5.98 and a beta of 1.06. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. The business has a fifty day simple moving average of $7.57 and a two-hundred day simple moving average of $8.78.

Golden Ocean Group (NASDAQ:GOGL) last posted its quarterly earnings data on Wednesday, May 21st. The shipping company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.09). The business had revenue of $115.00 million for the quarter, compared to the consensus estimate of $106.48 million. Golden Ocean Group had a return on equity of 13.14% and a net margin of 23.89%. On average, equities analysts forecast that Golden Ocean Group Limited will post 1.14 earnings per share for the current fiscal year.

Golden Ocean Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were paid a $0.15 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $0.60 annualized dividend and a dividend yield of 8.30%. Golden Ocean Group’s payout ratio is currently 35.09%.

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.