Golden Ocean Group Limited (NASDAQ:GOGL - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $7.77, but opened at $7.60. Golden Ocean Group shares last traded at $7.65, with a volume of 777,132 shares trading hands.
Analyst Upgrades and Downgrades
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 for the company in a report on Wednesday, April 23rd.
Get Our Latest Analysis on Golden Ocean Group
Golden Ocean Group Trading Up 2.1 %
The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $1.56 billion, a P/E ratio of 6.46 and a beta of 1.10. The business's fifty day moving average is $7.87 and its 200-day moving average is $9.18.
Golden Ocean Group Cuts Dividend
The business 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 dividend on an annualized basis and a dividend yield of 7.67%. Golden Ocean Group's dividend payout ratio (DPR) is 53.57%.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in GOGL. Prevail Innovative Wealth Advisors LLC grew its holdings in shares of Golden Ocean Group by 66.1% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 294,869 shares of the shipping company's stock valued at $2,353,000 after acquiring an additional 117,346 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in Golden Ocean Group by 63.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 8,395 shares of the shipping company's stock valued at $67,000 after buying an additional 3,267 shares in the last quarter. CWM LLC raised its stake in shares of Golden Ocean Group by 330.1% during the 1st quarter. CWM LLC now owns 3,402 shares of the shipping company's stock valued at $27,000 after purchasing an additional 2,611 shares during the period. Alps Advisors Inc. bought a new position in shares of Golden Ocean Group in the first quarter valued at approximately $368,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Golden Ocean Group by 405.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 8,100 shares of the shipping company's stock valued at $65,000 after purchasing an additional 6,498 shares during the period. 22.00% of the stock is owned by institutional investors and hedge funds.
About Golden Ocean Group
(
Get 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.
Featured Articles
Before you consider Golden Ocean Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Golden Ocean Group wasn't on the list.
While Golden Ocean Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
