Mirae Asset Global Investments Co. Ltd. Takes Position in Golar LNG Limited (NASDAQ:GLNG)

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Golar LNG Limited (NASDAQ:GLNG) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 5,100 shares of the shipping company’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new stake in Golar LNG in the third quarter worth about $32,000. Blue Trust Inc. grew its holdings in shares of Golar LNG by 105.1% during the third quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock valued at $50,000 after buying an additional 703 shares during the last quarter. CWM LLC grew its holdings in shares of Golar LNG by 830.9% during the third quarter. CWM LLC now owns 1,657 shares of the shipping company’s stock valued at $61,000 after buying an additional 1,479 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Golar LNG during the fourth quarter valued at approximately $61,000. Finally, Metis Global Partners LLC purchased a new stake in shares of Golar LNG during the third quarter valued at approximately $201,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Golar LNG Price Performance

Golar LNG stock opened at $40.98 on Friday. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 292.74 and a beta of 0.55. Golar LNG Limited has a 1 year low of $19.94 and a 1 year high of $44.36. The firm has a 50-day moving average of $41.77 and a two-hundred day moving average of $37.66.

Analyst Ratings Changes

Several research firms have weighed in on GLNG. StockNews.com upgraded shares of Golar LNG to a “sell” rating in a research report on Monday, December 9th. Fearnley Fonds cut shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus lifted their price objective on shares of Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, December 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.13.

Golar LNG Profile

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.