Hsbc Holdings PLC Acquires 105,879 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Hsbc Holdings PLC grew its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGLFree Report) by 44.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 341,911 shares of the shipping company’s stock after acquiring an additional 105,879 shares during the period. Hsbc Holdings PLC owned about 0.17% of Golden Ocean Group worth $2,697,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of GOGL. Renaissance Technologies LLC boosted its holdings in Golden Ocean Group by 285.4% during the first quarter. Renaissance Technologies LLC now owns 3,658,689 shares of the shipping company’s stock worth $45,295,000 after purchasing an additional 2,709,400 shares during the last quarter. State Street Corp purchased a new position in Golden Ocean Group in the 2nd quarter worth approximately $19,387,000. Marshall Wace LLP purchased a new stake in shares of Golden Ocean Group in the 2nd quarter valued at $8,688,000. Goldman Sachs Group Inc. boosted its stake in shares of Golden Ocean Group by 14.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,465,084 shares of the shipping company’s stock valued at $104,798,000 after purchasing an additional 1,076,285 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Golden Ocean Group in the 1st quarter valued at $9,094,000. Institutional investors own 19.98% of the company’s stock.

Golden Ocean Group Trading Up 1.2 %

Shares of GOGL opened at $12.87 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.74. Golden Ocean Group Limited has a twelve month low of $6.89 and a twelve month high of $13.14. The stock has a market capitalization of $2.58 billion, a P/E ratio of 21.10 and a beta of 1.35. The firm has a fifty day simple moving average of $10.58 and a two-hundred day simple moving average of $8.85.

Golden Ocean Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 25th. Shareholders of record on Wednesday, March 13th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, March 12th. This is a positive change from Golden Ocean Group’s previous quarterly dividend of $0.10. This represents a $1.20 annualized dividend and a yield of 9.32%. Golden Ocean Group’s dividend payout ratio is 65.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GOGL shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Golden Ocean Group in a research note on Wednesday. BTIG Research reaffirmed a “neutral” rating on shares of Golden Ocean Group in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.50.

View Our Latest Stock Report on Golden Ocean Group

About Golden Ocean Group

(Free Report)

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels worldwide. It operates dry bulk vessels comprising of Newcastlemax, Capesize, Panamax, and Ultramax vessels in the spot and time charter markets. The company's vessels transport a range of bulk commodities, such as ores, coal, grains, and fertilizers.

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Institutional Ownership by Quarter for Golden Ocean Group (NASDAQ:GOGL)

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