Swiss National Bank Buys 1,658 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Swiss National Bank raised its stake in Golden Ocean Group Limited (NASDAQ:GOGL) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 257,524 shares of the shipping company’s stock after acquiring an additional 1,658 shares during the period. Swiss National Bank owned about 0.13% of Golden Ocean Group worth $2,259,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Point72 Hong Kong Ltd acquired a new stake in shares of Golden Ocean Group in the 3rd quarter valued at $28,000. Jones Financial Companies Lllp boosted its holdings in shares of 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 acquiring an additional 2,391 shares in the last quarter. Onyx Bridge Wealth Group LLC grew its position in Golden Ocean Group by 10.4% during the 4th quarter. Onyx Bridge Wealth Group LLC now owns 35,091 shares of the shipping company’s stock worth $314,000 after acquiring an additional 3,315 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Golden Ocean Group during the 4th quarter valued at $46,000. Finally, Quadrature Capital Ltd raised its position in Golden Ocean Group by 8.4% in the 3rd quarter. Quadrature Capital Ltd now owns 66,760 shares of the shipping company’s stock valued at $894,000 after purchasing an additional 5,180 shares during the last quarter. 22.00% of the stock is currently owned by institutional investors and hedge funds.

Golden Ocean Group Stock Performance

GOGL stock opened at $8.14 on Friday. The stock has a market capitalization of $1.63 billion, a PE ratio of 6.73 and a beta of 1.14. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. The company has a 50 day moving average price of $8.87 and a 200 day moving average price of $10.12. Golden Ocean Group Limited has a fifty-two week low of $7.49 and a fifty-two week high of $15.77.

Golden Ocean Group Cuts Dividend

The company also recently disclosed 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 yield of 7.37%. Golden Ocean Group’s payout ratio is 53.57%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group restated a “hold” rating and set a $10.00 target price on shares of Golden Ocean Group in a report on Wednesday, February 26th.

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.