Mackenzie Financial Corp Invests $262,000 in Golden Ocean Group Limited (NASDAQ:GOGL)

Key Points

• Mackenzie Financial Corp has made a new investment of $262,000 in Golden Ocean Group Limited, acquiring 32,865 shares of the shipping company.
• Golden Ocean Group reported a loss of $0.19 per share for the last quarter, missing analyst estimates and revealing a revenue of $115 million for that period.
• The company recently declared a quarterly dividend of $0.05, resulting in an annualized yield of 2.3%, with a payout ratio of 35.09%.

Mackenzie Financial Corp acquired a new stake in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 32,865 shares of the shipping company's stock, valued at approximately $262,000.

Other institutional investors have also bought and sold shares of the company. MetLife Investment Management LLC lifted its position in Golden Ocean Group by 1.7% in the fourth quarter. MetLife Investment Management LLC now owns 71,533 shares of the shipping company's stock valued at $641,000 after buying an additional 1,201 shares during the last quarter. State of Wyoming raised its stake in shares of Golden Ocean Group by 10.3% in the 4th quarter. State of Wyoming now owns 13,596 shares of the shipping company's stock valued at $122,000 after acquiring an additional 1,268 shares during the period. Onyx Bridge Wealth Group LLC lifted its holdings in shares of Golden Ocean Group by 4.5% in the 1st quarter. Onyx Bridge Wealth Group LLC now owns 36,682 shares of the shipping company's stock worth $293,000 after acquiring an additional 1,591 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Golden Ocean Group by 47.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,294 shares of the shipping company's stock worth $47,000 after purchasing an additional 1,694 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Golden Ocean Group by 2.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,525 shares of the shipping company's stock valued at $965,000 after purchasing an additional 2,078 shares during the last quarter. 22.00% of the stock is owned by hedge funds and other institutional investors.

Golden Ocean Group Stock Down 4.1%

GOGL traded down $0.34 during trading hours on Thursday, hitting $7.94. 1,119,080 shares of the company's stock were exchanged, compared to its average volume of 3,182,831. Golden Ocean Group Limited has a 12-month low of $6.27 and a 12-month high of $13.44. The firm has a 50 day moving average of $8.08 and a 200 day moving average of $8.12. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.66. The firm has a market cap of $1.58 billion, a P/E ratio of 13.95 and a beta of 1.09.

Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last released its earnings results on Wednesday, May 21st. The shipping company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.09). Golden Ocean Group had a return on equity of 5.56% and a net margin of 13.16%. The company had revenue of $115.00 million for the quarter, compared to analyst estimates of $106.48 million. Analysts predict that Golden Ocean Group Limited will post 1.14 EPS for the current fiscal year.

Golden Ocean Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Thursday, June 5th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $0.20 annualized dividend and a yield of 2.5%. Golden Ocean Group's dividend payout ratio (DPR) is 35.09%.

Analyst Ratings Changes

A number of research analysts have commented on GOGL shares. Wall Street Zen assumed coverage on Golden Ocean Group in a research note on Thursday, May 22nd. They set a "hold" rating on the stock. Jefferies Financial Group lowered their target price on Golden Ocean Group from $10.00 to $8.00 and set a "hold" rating for the company in a 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.