Golden Ocean Group Limited (NASDAQ:GOGL - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $7.54 and last traded at $7.72, with a volume of 2004996 shares changing hands. The stock had previously closed at $7.67.
Analysts Set New Price Targets
Separately, Jefferies Financial Group lowered 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.
Get Our Latest Stock Analysis on Golden Ocean Group
Golden Ocean Group Stock Performance
The stock has a market capitalization of $1.56 billion, a P/E ratio of 6.46 and a beta of 1.10. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.65. The stock has a 50 day simple moving average of $7.87 and a two-hundred day simple moving average of $9.17.
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 dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a yield of 7.67%. Golden Ocean Group's payout ratio is 53.57%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in GOGL. Jones Financial Companies Lllp raised its position in shares of Golden Ocean Group by 683.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company's stock valued at $25,000 after purchasing an additional 2,391 shares during the period. CWM LLC raised its holdings in Golden Ocean Group by 330.1% in the 1st quarter. CWM LLC now owns 3,402 shares of the shipping company's stock valued at $27,000 after acquiring an additional 2,611 shares during the period. Sterling Capital Management LLC raised its holdings in Golden Ocean Group by 830.1% in the 4th quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company's stock valued at $35,000 after acquiring an additional 3,478 shares during the period. Quarry LP boosted its holdings in shares of Golden Ocean Group by 195.3% during the fourth quarter. Quarry LP now owns 4,981 shares of the shipping company's stock worth $45,000 after acquiring an additional 3,294 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Golden Ocean Group during the fourth quarter worth approximately $46,000. 22.00% of the stock is owned by institutional investors and hedge funds.
About Golden Ocean Group
(
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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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