LPL Financial LLC lowered its stake in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 65.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,962 shares of the shipping company's stock after selling 78,210 shares during the period. LPL Financial LLC's holdings in Golden Ocean Group were worth $376,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its stake in shares of Golden Ocean Group by 683.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company's stock worth $25,000 after purchasing an additional 2,391 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Golden Ocean Group in the 4th quarter worth approximately $46,000. Cibc World Markets Corp acquired a new position in shares of Golden Ocean Group during the fourth quarter worth $102,000. MQS Management LLC acquired a new stake in shares of Golden Ocean Group in the 4th quarter worth $120,000. Finally, Svenska Handelsbanken AB publ acquired a new stake in Golden Ocean Group in the fourth quarter worth about $208,000. 22.00% of the stock is owned by institutional investors.
Golden Ocean Group Stock Performance
Shares of GOGL stock traded up $0.05 during trading hours on Thursday, hitting $7.77. The company's stock had a trading volume of 178,663 shares, compared to its average volume of 2,240,159. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. The company has a 50 day moving average of $7.93 and a 200 day moving average of $9.23. Golden Ocean Group Limited has a 12-month low of $6.27 and a 12-month high of $15.77. The stock has a market cap of $1.55 billion, a PE ratio of 6.43 and a beta of 1.10.
Golden Ocean Group Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were given a $0.15 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.73%. Golden Ocean Group's dividend payout ratio (DPR) is currently 53.57%.
Wall Street Analyst Weigh In
Separately, Jefferies Financial Group cut their price target on shares of Golden Ocean Group from $10.00 to $8.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd.
Read Our Latest Analysis on GOGL
About Golden Ocean Group
(
Free Report)
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.
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