Canada Pension Plan Investment Board Takes Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Canada Pension Plan Investment Board acquired a new stake in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 124,800 shares of the shipping company's stock, valued at approximately $1,118,000. Canada Pension Plan Investment Board owned approximately 0.06% of Golden Ocean Group at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of Golden Ocean Group by 31.7% in the third quarter. JPMorgan Chase & Co. now owns 444,453 shares of the shipping company's stock valued at $5,947,000 after buying an additional 106,966 shares in the last quarter. Harbour Capital Advisors LLC grew its holdings in shares of Golden Ocean Group by 70.6% in the 4th quarter. Harbour Capital Advisors LLC now owns 41,515 shares of the shipping company's stock worth $378,000 after acquiring an additional 17,185 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of 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. Dakota Wealth Management purchased a new stake in shares of Golden Ocean Group during the fourth quarter valued at $770,000. Finally, SG Americas Securities LLC boosted its position in shares of Golden Ocean Group by 26.7% in the 4th quarter. SG Americas Securities LLC now owns 59,951 shares of the shipping company's stock valued at $537,000 after purchasing an additional 12,647 shares during the period. 22.00% of the stock is currently owned by institutional investors.

Golden Ocean Group Stock Up 0.7 %

Shares of Golden Ocean Group stock traded up $0.05 during trading on Wednesday, hitting $7.72. 2,005,221 shares of the stock traded hands, compared to its average volume of 2,248,320. The stock has a market cap of $1.54 billion, a P/E ratio of 6.38 and a beta of 1.10. The company has a fifty day moving average price of $7.93 and a two-hundred day moving average price of $9.23. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22. Golden Ocean Group Limited has a twelve month low of $6.27 and a twelve month high of $15.77.

Golden Ocean Group Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, March 11th. This represents a $0.60 annualized dividend and a yield of 7.77%. Golden Ocean Group's dividend payout ratio (DPR) is currently 53.57%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reduced their price target on shares of Golden Ocean Group from $10.00 to $8.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd.

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.