Traders Purchase Large Volume of Call Options on Golden Ocean Group (NASDAQ:GOGL)

Golden Ocean Group Limited (NASDAQ:GOGL) saw unusually large options trading activity on Thursday. Stock investors acquired 8,524 call options on the company. This is an increase of approximately 382% compared to the average daily volume of 1,770 call options.

Institutional Investors Weigh In On Golden Ocean Group

A number of institutional investors have recently modified their holdings of GOGL. Jefferies Financial Group Inc. lifted its holdings in Golden Ocean Group by 74.2% in the fourth quarter. Jefferies Financial Group Inc. now owns 34,074 shares of the shipping company’s stock valued at $305,000 after buying an additional 14,518 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Golden Ocean Group by 3.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 119,597 shares of the shipping company’s stock valued at $1,062,000 after purchasing an additional 4,198 shares in the last quarter. PharVision Advisers LLC acquired a new stake in Golden Ocean Group during the fourth quarter worth approximately $189,000. Voloridge Investment Management LLC increased its holdings in Golden Ocean Group by 6.8% in the fourth quarter. Voloridge Investment Management LLC now owns 1,495,472 shares of the shipping company’s stock worth $13,399,000 after purchasing an additional 95,164 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its stake in Golden Ocean Group by 155.8% in the fourth quarter. Squarepoint Ops LLC now owns 56,864 shares of the shipping company’s stock valued at $510,000 after buying an additional 34,636 shares during the period. 22.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

GOGL has been the subject of a number of recent research reports. Pareto Securities reaffirmed a “hold” rating and issued a $12.50 target price on shares of Golden Ocean Group in a report on Thursday, November 21st. Jefferies Financial Group restated a “hold” rating and set a $10.00 price target on shares of Golden Ocean Group in a report on Wednesday, February 26th.

Golden Ocean Group Trading Up 2.7 %

NASDAQ GOGL opened at $7.97 on Friday. Golden Ocean Group has a 12 month low of $7.49 and a 12 month high of $15.77. 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 firm has a market capitalization of $1.59 billion, a PE ratio of 6.59 and a beta of 1.14. The business’s 50-day moving average price is $9.00 and its two-hundred day moving average price is $10.25.

Golden Ocean Group Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Tuesday, March 11th will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.53%. Golden Ocean Group’s dividend payout ratio (DPR) is currently 53.57%.

Golden Ocean Group Company 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.