115,399 Shares in Golden Ocean Group Limited (NASDAQ:GOGL) Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new position in shares of Golden Ocean Group Limited (NASDAQ:GOGL) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 115,399 shares of the shipping company’s stock, valued at approximately $1,543,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Two Sigma Advisers LP raised its holdings in Golden Ocean Group by 6.9% during the third quarter. Two Sigma Advisers LP now owns 2,751,677 shares of the shipping company’s stock worth $36,817,000 after acquiring an additional 177,100 shares in the last quarter. Marshall Wace LLP raised its holdings in Golden Ocean Group by 96.9% during the second quarter. Marshall Wace LLP now owns 1,557,288 shares of the shipping company’s stock worth $21,491,000 after acquiring an additional 766,436 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Golden Ocean Group by 55.5% during the second quarter. Hsbc Holdings PLC now owns 1,169,814 shares of the shipping company’s stock worth $16,219,000 after acquiring an additional 417,539 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Golden Ocean Group by 42.7% during the second 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 in the last quarter. Finally, Empowered Funds LLC raised its holdings in Golden Ocean Group by 5.4% during the third quarter. Empowered Funds LLC now owns 929,764 shares of the shipping company’s stock worth $12,440,000 after acquiring an additional 47,302 shares in the last quarter. Institutional investors own 22.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GOGL shares. Jefferies Financial Group lowered their price target on 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. Pareto Securities reissued a “hold” rating and set a $12.50 price target on shares of Golden Ocean Group in a research report on Thursday, November 21st. Finally, StockNews.com downgraded Golden Ocean Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 5th.

Golden Ocean Group Price Performance

Golden Ocean Group stock opened at $8.77 on Thursday. Golden Ocean Group Limited has a 12 month low of $8.73 and a 12 month high of $15.77. The stock’s 50 day moving average is $10.77 and its 200-day moving average is $12.03. 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 company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 7.25 and a beta of 1.16.

Golden Ocean Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 9th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 13.68%. The ex-dividend date of this dividend was Monday, December 9th. Golden Ocean Group’s payout ratio is 99.17%.

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.