Fmr LLC Buys 7,263 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Fmr LLC lifted its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 146.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 12,210 shares of the shipping company’s stock after acquiring an additional 7,263 shares during the period. Fmr LLC’s holdings in Golden Ocean Group were worth $163,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GOGL. The Manufacturers Life Insurance Company increased its holdings in shares of Golden Ocean Group by 3.1% during the second quarter. The Manufacturers Life Insurance Company now owns 43,840 shares of the shipping company’s stock worth $605,000 after buying an additional 1,300 shares in the last quarter. Onyx Bridge Wealth Group LLC grew its position in Golden Ocean Group by 6.4% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 31,776 shares of the shipping company’s stock worth $425,000 after acquiring an additional 1,917 shares during the last quarter. Sei Investments Co. increased its holdings in Golden Ocean Group by 4.1% in the 2nd quarter. Sei Investments Co. now owns 54,404 shares of the shipping company’s stock worth $751,000 after purchasing an additional 2,144 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Golden Ocean Group by 16.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,420 shares of the shipping company’s stock valued at $225,000 after purchasing an additional 2,267 shares during the last quarter. Finally, Custom Index Systems LLC boosted its stake in shares of Golden Ocean Group by 11.9% during the third quarter. Custom Index Systems LLC now owns 28,389 shares of the shipping company’s stock valued at $380,000 after purchasing an additional 3,026 shares in the last quarter. 22.00% of the stock is currently owned by institutional investors and hedge funds.

Golden Ocean Group Stock Performance

Shares of GOGL stock opened at $8.71 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. Golden Ocean Group Limited has a one year low of $8.52 and a one year high of $15.77. The business’s 50 day simple moving average is $10.63 and its 200 day simple moving average is $11.95. The stock has a market capitalization of $1.74 billion, a PE ratio of 7.20 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. Investors of record on Monday, December 9th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 13.78%. The ex-dividend date of this dividend was Monday, December 9th. Golden Ocean Group’s dividend payout ratio is presently 99.17%.

Wall Street Analyst Weigh In

GOGL has been the subject of several recent research reports. StockNews.com downgraded Golden Ocean Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th. Pareto Securities restated a “hold” rating and issued a $12.50 price target on shares of Golden Ocean Group in a research report on Thursday, November 21st. Finally, Jefferies Financial Group cut their price target on shares of Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th.

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.