Harbour Capital Advisors LLC Buys 17,185 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Harbour Capital Advisors LLC grew its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 70.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 41,515 shares of the shipping company’s stock after acquiring an additional 17,185 shares during the period. Harbour Capital Advisors LLC’s holdings in Golden Ocean Group were worth $378,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new position in Golden Ocean Group in the third quarter worth about $28,000. EverSource Wealth Advisors LLC raised its holdings in Golden Ocean Group by 2,319.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 9,170 shares of the shipping company’s stock worth $127,000 after acquiring an additional 8,791 shares during the last quarter. FMR LLC lifted its position in Golden Ocean Group by 146.8% in the 3rd quarter. FMR LLC now owns 12,210 shares of the shipping company’s stock valued at $163,000 after acquiring an additional 7,263 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Golden Ocean Group by 16.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,420 shares of the shipping company’s stock valued at $225,000 after purchasing an additional 2,267 shares during the last quarter. Finally, Quantinno Capital Management LP increased its holdings in shares of Golden Ocean Group by 96.3% in the 3rd quarter. Quantinno Capital Management LP now owns 19,740 shares of the shipping company’s stock worth $264,000 after purchasing an additional 9,684 shares in the last quarter. Hedge funds and other institutional investors own 22.00% of the company’s stock.

Golden Ocean Group Trading Down 0.9 %

Shares of NASDAQ:GOGL opened at $9.25 on Tuesday. The stock’s 50-day simple moving average is $10.00 and its two-hundred day simple moving average is $11.45. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 7.64 and a beta of 1.18. Golden Ocean Group Limited has a 52-week low of $8.52 and a 52-week high of $15.77. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22.

Golden Ocean Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 9th were given a $0.30 dividend. The ex-dividend date was Monday, December 9th. This represents a $1.20 annualized dividend and a yield of 12.97%. Golden Ocean Group’s payout ratio is presently 99.17%.

Analysts Set New Price Targets

Several equities research analysts recently commented on GOGL shares. StockNews.com cut Golden Ocean Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 5th. Pareto Securities reiterated a “hold” rating and issued a $12.50 price target on shares of Golden Ocean Group in a research note on Thursday, November 21st. Finally, Jefferies Financial Group lowered their price objective on shares of Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th.

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.