Cibc World Markets Corp Invests $102,000 in Golden Ocean Group Limited (NASDAQ:GOGL)

Cibc World Markets Corp acquired a new stake in Golden Ocean Group Limited (NASDAQ:GOGL) during the 4th quarter, Holdings Channel.com reports. The firm acquired 11,388 shares of the shipping company’s stock, valued at approximately $102,000.

Several other hedge funds have also recently bought and sold shares of the company. Intech Investment Management LLC purchased a new stake in Golden Ocean Group during the third quarter worth about $477,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Golden Ocean Group by 10.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 319,539 shares of the shipping company’s stock valued at $4,275,000 after purchasing an additional 29,051 shares during the period. Quantbot Technologies LP grew its holdings in shares of Golden Ocean Group by 93.7% in the third quarter. Quantbot Technologies LP now owns 228,972 shares of the shipping company’s stock valued at $3,064,000 after purchasing an additional 110,745 shares in the last quarter. FMR LLC increased its stake in Golden Ocean Group by 146.8% during the 3rd quarter. FMR LLC now owns 12,210 shares of the shipping company’s stock worth $163,000 after buying an additional 7,263 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in Golden Ocean Group by 16.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 123,048 shares of the shipping company’s stock worth $1,646,000 after buying an additional 17,553 shares during the period. Institutional investors and hedge funds own 22.00% of the company’s stock.

Golden Ocean Group Price Performance

GOGL stock opened at $8.14 on Friday. The business’s 50-day moving average is $8.87 and its two-hundred day moving average is $10.12. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market capitalization of $1.63 billion, a P/E ratio of 6.73 and a beta of 1.14. Golden Ocean Group Limited has a 1 year low of $7.49 and a 1 year high of $15.77.

Golden Ocean Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.60 annualized dividend and a yield of 7.37%. Golden Ocean Group’s dividend payout ratio (DPR) is 53.57%.

Analyst Ratings Changes

Separately, Jefferies Financial Group restated a “hold” rating and issued a $10.00 price target on shares of Golden Ocean Group in a research note on Wednesday, February 26th.

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.