Jefferies Financial Group Inc. Boosts Stock Holdings in Golden Ocean Group Limited (NASDAQ:GOGL)

Jefferies Financial Group Inc. raised its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 74.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 34,074 shares of the shipping company’s stock after purchasing an additional 14,518 shares during the period. Jefferies Financial Group Inc.’s holdings in Golden Ocean Group were worth $305,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOGL. Encompass Capital Advisors LLC grew its position in shares of Golden Ocean Group by 1,402.3% in the 4th quarter. Encompass Capital Advisors LLC now owns 1,905,407 shares of the shipping company’s stock worth $17,072,000 after buying an additional 1,778,571 shares during the last quarter. Mirabella Financial Services LLP grew its position in shares of Golden Ocean Group by 114.2% in the 4th quarter. Mirabella Financial Services LLP now owns 1,499,244 shares of the shipping company’s stock worth $13,222,000 after buying an additional 799,244 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Golden Ocean Group by 229.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,139,248 shares of the shipping company’s stock worth $10,208,000 after buying an additional 793,470 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Golden Ocean Group by 196.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 961,367 shares of the shipping company’s stock worth $8,614,000 after buying an additional 637,103 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Golden Ocean Group by 2,893.9% in the 4th quarter. Victory Capital Management Inc. now owns 414,121 shares of the shipping company’s stock worth $3,711,000 after buying an additional 400,289 shares during the last quarter. Hedge funds and other institutional investors own 22.00% of the company’s stock.

Golden Ocean Group Stock Performance

Shares of NASDAQ GOGL opened at $8.06 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. Golden Ocean Group Limited has a 12 month low of $6.27 and a 12 month high of $15.77. The company has a 50 day simple moving average of $7.61 and a two-hundred day simple moving average of $8.95. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 6.66 and a beta of 1.06.

Golden Ocean Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 7.44%. The ex-dividend date was Tuesday, March 11th. Golden Ocean Group’s payout ratio is 53.57%.

Analyst Ratings Changes

Several analysts have weighed in on GOGL shares. Jefferies Financial Group dropped their target price on shares of Golden Ocean Group from $10.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. StockNews.com started coverage on shares of Golden Ocean Group in a research report on Wednesday. They set a “hold” rating on the stock.

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.