SBI Securities Co. Ltd. Makes New $46,000 Investment in Golden Ocean Group Limited (NASDAQ:GOGL)

SBI Securities Co. Ltd. purchased a new position in shares of Golden Ocean Group Limited (NASDAQ:GOGL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,128 shares of the shipping company’s stock, valued at approximately $46,000.

Several other hedge funds have also made changes to their positions in GOGL. Jones Financial Companies Lllp boosted its stake 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 last quarter. Point72 Hong Kong Ltd purchased a new position in Golden Ocean Group during the third quarter worth approximately $28,000. FMR LLC boosted its holdings in shares of Golden Ocean Group by 146.8% in the 3rd quarter. FMR LLC now owns 12,210 shares of the shipping company’s stock valued at $163,000 after purchasing an additional 7,263 shares during the last quarter. Svenska Handelsbanken AB publ purchased a new stake in shares of Golden Ocean Group during the 4th quarter valued at $208,000. Finally, Quantinno Capital Management LP increased its holdings in shares of Golden Ocean Group by 96.3% during the 3rd quarter. Quantinno Capital Management LP now owns 19,740 shares of the shipping company’s stock worth $264,000 after buying an additional 9,684 shares during the last quarter. Institutional investors and hedge funds own 22.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Golden Ocean Group Trading Down 6.2 %

GOGL opened at $8.23 on Tuesday. The firm’s 50 day moving average is $9.19 and its 200-day moving average is $10.47. The firm has a market capitalization of $1.65 billion, a P/E ratio of 6.80 and a beta of 1.14. Golden Ocean Group Limited has a 52-week low of $8.20 and a 52-week high of $15.77. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.65.

Golden Ocean Group Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.29%. The ex-dividend date is Tuesday, March 11th. Golden Ocean Group’s payout ratio is 53.57%.

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.