Capital Fund Management S.A. Decreases Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Capital Fund Management S.A. lowered its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 51.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,953 shares of the shipping company's stock after selling 50,671 shares during the quarter. Capital Fund Management S.A.'s holdings in Golden Ocean Group were worth $430,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in Golden Ocean Group by 229.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,139,248 shares of the shipping company's stock valued at $10,208,000 after buying an additional 793,470 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Golden Ocean Group by 196.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 961,367 shares of the shipping company's stock worth $8,614,000 after acquiring an additional 637,103 shares during the last quarter. Victory Capital Management Inc. grew its stake in Golden Ocean Group by 2,893.9% during the fourth quarter. Victory Capital Management Inc. now owns 414,121 shares of the shipping company's stock valued at $3,711,000 after acquiring an additional 400,289 shares in the last quarter. Prevail Innovative Wealth Advisors LLC bought a new stake in Golden Ocean Group in the 4th quarter valued at $1,591,000. Finally, Denali Advisors LLC lifted its stake in Golden Ocean Group by 27.3% in the 4th quarter. Denali Advisors LLC now owns 620,490 shares of the shipping company's stock worth $5,560,000 after purchasing an additional 133,200 shares in the last quarter. Institutional investors own 22.00% of the company's stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group restated a "hold" rating and set a $10.00 price objective on shares of Golden Ocean Group in a research report on Wednesday, February 26th.

Golden Ocean Group Price Performance

Shares of GOGL traded down $0.08 during mid-day trading on Tuesday, hitting $7.04. 2,460,857 shares of the stock were exchanged, compared to its average volume of 2,187,557. The firm has a 50-day moving average of $8.15 and a two-hundred day moving average of $9.41. Golden Ocean Group Limited has a 52-week low of $6.27 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. The company has a market cap of $1.41 billion, a PE ratio of 5.82 and a beta of 1.10.

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 given a dividend of $0.15 per share. The ex-dividend date was Tuesday, March 11th. This represents a $0.60 annualized dividend and a yield of 8.52%. Golden Ocean Group's dividend payout ratio (DPR) is currently 53.57%.

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.