Mirabella Financial Services LLP Buys 799,244 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Mirabella Financial Services LLP increased its stake in Golden Ocean Group Limited (NASDAQ:GOGL) by 114.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,499,244 shares of the shipping company’s stock after acquiring an additional 799,244 shares during the quarter. Golden Ocean Group comprises 1.2% of Mirabella Financial Services LLP’s holdings, making the stock its 18th largest holding. Mirabella Financial Services LLP’s holdings in Golden Ocean Group were worth $13,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Jones Financial Companies Lllp raised its position in shares of Golden Ocean Group by 683.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company’s stock worth $25,000 after acquiring an additional 2,391 shares in the last quarter. Sterling Capital Management LLC grew its stake in Golden Ocean Group by 830.1% during the fourth quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company’s stock worth $35,000 after purchasing an additional 3,478 shares during the period. SBI Securities Co. Ltd. bought a new stake in Golden Ocean Group in the fourth quarter worth approximately $46,000. Townsquare Capital LLC acquired a new position in Golden Ocean Group in the fourth quarter valued at approximately $99,000. Finally, Cibc World Markets Corp acquired a new position in Golden Ocean Group in the fourth quarter valued at approximately $102,000. 22.00% of the stock is currently owned by institutional investors.

Golden Ocean Group Stock Performance

Shares of GOGL opened at $7.16 on Friday. The stock has a 50-day moving average of $8.23 and a 200-day moving average of $9.49. Golden Ocean Group Limited has a one year low of $6.27 and a one year high of $15.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market cap of $1.43 billion, a PE ratio of 5.92 and a beta of 1.10.

Golden Ocean Group Cuts Dividend

The company also recently announced 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 8.38%. The ex-dividend date was Tuesday, March 11th. Golden Ocean Group’s payout ratio is 53.57%.

Analyst Ratings Changes

Separately, Jefferies Financial Group reiterated a “hold” rating and issued a $10.00 price objective on shares of Golden Ocean Group in a research note on Wednesday, February 26th.

About Golden Ocean Group

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.