Public Employees Retirement System of Ohio Takes Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Public Employees Retirement System of Ohio bought a new stake in Golden Ocean Group Limited (NASDAQ:GOGL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 115,399 shares of the shipping company’s stock, valued at approximately $1,543,000. Public Employees Retirement System of Ohio owned 0.06% of Golden Ocean Group as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in shares of Golden Ocean Group by 3.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 43,840 shares of the shipping company’s stock valued at $605,000 after buying an additional 1,300 shares during the period. Onyx Bridge Wealth Group LLC increased its stake in shares of Golden Ocean Group by 6.4% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 31,776 shares of the shipping company’s stock valued at $425,000 after buying an additional 1,917 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Golden Ocean Group in the 3rd quarter valued at $28,000. Sei Investments Co. increased its stake in shares of Golden Ocean Group by 4.1% in the 2nd quarter. Sei Investments Co. now owns 54,404 shares of the shipping company’s stock valued at $751,000 after buying an additional 2,144 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of Golden Ocean Group by 16.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,420 shares of the shipping company’s stock worth $225,000 after purchasing an additional 2,267 shares during the period. 22.00% of the stock is owned by institutional investors and hedge funds.

Golden Ocean Group Stock Performance

GOGL stock opened at $8.77 on Thursday. The business’s 50-day moving average price is $10.77 and its two-hundred day moving average price is $12.03. 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 firm has a market cap of $1.75 billion, a PE ratio of 7.25 and a beta of 1.16. Golden Ocean Group Limited has a 1-year low of $8.73 and a 1-year high of $15.77.

Golden Ocean Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 9th were issued a dividend of $0.30 per share. The ex-dividend date was Monday, December 9th. This represents a $1.20 annualized dividend and a yield of 13.68%. Golden Ocean Group’s dividend payout ratio is presently 99.17%.

Analysts Set New Price Targets

GOGL has been the subject of a number of analyst reports. Pareto Securities reaffirmed a “hold” rating and set a $12.50 price objective on shares of Golden Ocean Group in a research note on Thursday, November 21st. Jefferies Financial Group decreased their price objective on Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Finally, StockNews.com cut Golden Ocean Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th.

Golden Ocean Group 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.