Jennison Associates LLC Purchases 18,811 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Jennison Associates LLC lifted its position in Golden Ocean Group Limited (NASDAQ:GOGL) by 33.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 74,443 shares of the shipping company’s stock after buying an additional 18,811 shares during the quarter. Jennison Associates LLC’s holdings in Golden Ocean Group were worth $667,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in Golden Ocean Group by 31.7% during the third quarter. JPMorgan Chase & Co. now owns 444,453 shares of the shipping company’s stock worth $5,947,000 after purchasing an additional 106,966 shares during the period. Dakota Wealth Management bought a new stake in Golden Ocean Group during the fourth quarter worth approximately $770,000. Assenagon Asset Management S.A. boosted its position in Golden Ocean Group by 196.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 961,367 shares of the shipping company’s stock worth $8,614,000 after purchasing an additional 637,103 shares during the period. Mirabella Financial Services LLP bought a new stake in Golden Ocean Group during the third quarter worth approximately $9,360,000. Finally, Quantbot Technologies LP boosted its position in Golden Ocean Group by 93.7% during the third quarter. Quantbot Technologies LP now owns 228,972 shares of the shipping company’s stock worth $3,064,000 after purchasing an additional 110,745 shares during the period. Institutional investors own 22.00% of the company’s stock.

Golden Ocean Group Stock Up 0.3 %

Shares of GOGL stock opened at $9.28 on Friday. Golden Ocean Group Limited has a 12 month low of $8.52 and a 12 month high of $15.77. The firm has a market cap of $1.86 billion, a PE ratio of 7.67 and a beta of 1.16. The stock has a 50 day moving average of $9.15 and a 200-day moving average of $10.93. 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 (NASDAQ:GOGL) last issued its quarterly earnings results on Wednesday, November 27th. The shipping company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. Golden Ocean Group had a return on equity of 13.14% and a net margin of 23.89%. On average, equities analysts predict that Golden Ocean Group Limited will post 1.14 EPS for the current year.

Golden Ocean Group Dividend Announcement

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 $0.30 dividend. The ex-dividend date was Monday, December 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 12.93%. Golden Ocean Group’s payout ratio is 99.17%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GOGL shares. Pareto Securities reaffirmed a “hold” rating and set a $12.50 target price on shares of Golden Ocean Group in a research report on Thursday, November 21st. Jefferies Financial Group decreased their target price on Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating for the company in a research 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.