Swiss National Bank Acquires 1,658 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Swiss National Bank grew its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 257,524 shares of the shipping company’s stock after buying an additional 1,658 shares during the period. Swiss National Bank’s holdings in Golden Ocean Group were worth $2,259,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of GOGL. Jones Financial Companies Lllp grew its holdings in shares of Golden Ocean Group by 683.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company’s stock valued at $25,000 after buying an additional 2,391 shares during the period. Point72 Hong Kong Ltd acquired a new position in Golden Ocean Group in the third quarter valued at about $28,000. SBI Securities Co. Ltd. bought a new stake in shares of Golden Ocean Group in the fourth quarter worth about $46,000. MQS Management LLC acquired a new stake in shares of Golden Ocean Group during the fourth quarter worth about $120,000. Finally, FMR LLC lifted its holdings in shares of Golden Ocean Group by 146.8% during the 3rd quarter. FMR LLC now owns 12,210 shares of the shipping company’s stock valued at $163,000 after purchasing an additional 7,263 shares in the last quarter. Institutional investors own 22.00% of the company’s stock.

Golden Ocean Group Trading Up 1.8 %

GOGL opened at $8.14 on Friday. The stock has a market capitalization of $1.63 billion, a P/E ratio of 6.73 and a beta of 1.14. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. Golden Ocean Group Limited has a 12 month low of $7.49 and a 12 month high of $15.77. The firm’s fifty day simple moving average is $8.87 and its 200 day simple moving average is $10.12.

Golden Ocean Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 11th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, March 11th. This represents a $0.60 annualized dividend and a dividend yield of 7.37%. Golden Ocean Group’s dividend payout ratio is currently 53.57%.

Wall Street Analyst Weigh In

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

Golden Ocean Group Company 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.