Intech Investment Management LLC Purchases New Stake in Golden Ocean Group Limited (NASDAQ:GOGL)

Intech Investment Management LLC acquired a new position in shares of Golden Ocean Group Limited (NASDAQ:GOGL) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 35,645 shares of the shipping company’s stock, valued at approximately $477,000.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Golden Ocean Group by 273.9% during the 1st quarter. Vanguard Group Inc. now owns 5,190,885 shares of the shipping company’s stock worth $67,274,000 after purchasing an additional 3,802,652 shares during the period. Marshall Wace LLP boosted its position in shares of Golden Ocean Group by 96.9% in the second quarter. Marshall Wace LLP now owns 1,557,288 shares of the shipping company’s stock worth $21,491,000 after buying an additional 766,436 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Golden Ocean Group by 1,372.9% in the second quarter. Assenagon Asset Management S.A. now owns 1,260,278 shares of the shipping company’s stock worth $17,392,000 after buying an additional 1,174,716 shares during the period. Hsbc Holdings PLC grew its stake in shares of Golden Ocean Group by 55.5% in the second quarter. Hsbc Holdings PLC now owns 1,169,814 shares of the shipping company’s stock valued at $16,219,000 after buying an additional 417,539 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Golden Ocean Group by 42.7% in the 2nd quarter. Acadian Asset Management LLC now owns 991,898 shares of the shipping company’s stock worth $13,683,000 after acquiring an additional 296,842 shares during the period. Institutional investors and hedge funds own 22.00% of the company’s stock.

Golden Ocean Group Stock Performance

Shares of GOGL opened at $9.83 on Tuesday. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 8.12 and a beta of 1.20. The company has a quick ratio of 1.00, a current ratio of 1.17 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average is $11.64 and its two-hundred day moving average is $12.46. Golden Ocean Group Limited has a 52-week low of $8.42 and a 52-week high of $15.77.

Golden Ocean Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 9th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.20 annualized dividend and a dividend yield of 12.21%. Golden Ocean Group’s payout ratio is 99.17%.

Wall Street Analysts Forecast Growth

GOGL has been the topic of a number of recent research reports. Jefferies Financial Group reduced their target price on shares of Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. StockNews.com downgraded shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th. Finally, Pareto Securities reissued a “hold” rating and issued a $12.50 price objective on shares of Golden Ocean Group in a research report on Thursday, November 21st.

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.