Assenagon Asset Management S.A. Purchases 637,103 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Assenagon Asset Management S.A. grew its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 196.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 961,367 shares of the shipping company's stock after buying an additional 637,103 shares during the period. Assenagon Asset Management S.A. owned 0.48% of Golden Ocean Group worth $8,614,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOGL. Two Sigma Advisers LP grew its holdings in shares of Golden Ocean Group by 6.9% during the 3rd quarter. Two Sigma Advisers LP now owns 2,751,677 shares of the shipping company's stock worth $36,817,000 after acquiring an additional 177,100 shares during the period. Marshall Wace LLP boosted its position in shares of Golden Ocean Group by 96.9% during the second quarter. Marshall Wace LLP now owns 1,557,288 shares of the shipping company's stock valued at $21,491,000 after purchasing an additional 766,436 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Golden Ocean Group by 55.5% in the second quarter. Hsbc Holdings PLC now owns 1,169,814 shares of the shipping company's stock worth $16,219,000 after purchasing an additional 417,539 shares in the last quarter. Empowered Funds LLC lifted its position in Golden Ocean Group by 5.4% during the third quarter. Empowered Funds LLC now owns 929,764 shares of the shipping company's stock valued at $12,440,000 after buying an additional 47,302 shares during the period. Finally, Mirabella Financial Services LLP bought a new stake in Golden Ocean Group during the third quarter worth about $9,360,000. Institutional investors own 22.00% of the company's stock.

Analyst Upgrades and Downgrades

GOGL has been the topic of several analyst reports. Jefferies Financial Group dropped their target price on Golden Ocean Group from $12.50 to $12.00 and set a "hold" rating on the stock in a report on Wednesday, November 27th. StockNews.com downgraded Golden Ocean Group from a "buy" rating to a "hold" rating in a report on Saturday, October 5th. Finally, Pareto Securities reissued a "hold" rating and issued a $12.50 target price on shares of Golden Ocean Group in a research report on Thursday, November 21st.

Golden Ocean Group Stock Performance

GOGL traded down $0.13 during midday trading on Monday, reaching $8.86. The company had a trading volume of 2,160,368 shares, compared to its average volume of 1,178,207. The business has a 50-day moving average of $9.80 and a two-hundred day moving average of $11.31. The company has a market cap of $1.77 billion, a P/E ratio of 7.32 and a beta of 1.18. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.65. Golden Ocean Group Limited has a 1 year low of $8.52 and a 1 year high of $15.77.

Golden Ocean Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 9th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 13.54%. The ex-dividend date of this dividend was Monday, December 9th. Golden Ocean Group's dividend payout ratio is currently 99.17%.

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.