Arrowstreet Capital Limited Partnership lessened its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 11.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,984,902 shares of the shipping company's stock after selling 513,136 shares during the period. Arrowstreet Capital Limited Partnership owned 1.99% of Golden Ocean Group worth $35,408,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOGL. Jones Financial Companies Lllp lifted its position in Golden Ocean Group by 683.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company's stock valued at $25,000 after purchasing an additional 2,391 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Golden Ocean Group in the third quarter worth about $28,000. SBI Securities Co. Ltd. bought a new position in Golden Ocean Group in the 4th quarter worth about $46,000. Cibc World Markets Corp purchased a new position in Golden Ocean Group during the 4th quarter worth $102,000. Finally, MQS Management LLC purchased a new position in shares of Golden Ocean Group during the fourth quarter valued at $120,000. 22.00% of the stock is owned by institutional investors.
Golden Ocean Group Stock Up 11.9 %
Shares of GOGL traded up $0.77 during midday trading on Monday, hitting $7.25. 6,667,783 shares of the company's stock traded hands, compared to its average volume of 2,079,721. 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 stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 5.99 and a beta of 1.10. The firm's fifty day moving average is $8.72 and its 200-day moving average is $9.90. Golden Ocean Group Limited has a 1 year low of $6.37 and a 1 year high of $15.77.
Golden Ocean Group Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 8.28%. The ex-dividend date was Tuesday, March 11th. Golden Ocean Group's dividend payout ratio (DPR) is presently 53.57%.
Analysts Set New Price Targets
Separately, Jefferies Financial Group reissued a "hold" rating and issued a $10.00 price objective on shares of Golden Ocean Group in a research note on Wednesday, February 26th.
Read Our Latest Research Report on GOGL
Golden Ocean Group Company Profile
(
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.
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