Charles Schwab Investment Management Inc. Acquires 33,695 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Charles Schwab Investment Management Inc. increased its stake in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 10.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 353,234 shares of the shipping company's stock after buying an additional 33,695 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.18% of Golden Ocean Group worth $3,165,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Two Sigma Advisers LP lifted its stake in Golden Ocean Group by 6.9% in the third quarter. Two Sigma Advisers LP now owns 2,751,677 shares of the shipping company's stock valued at $36,817,000 after acquiring an additional 177,100 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Golden Ocean Group by 229.5% in 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 purchasing an additional 793,470 shares during the period. Empowered Funds LLC lifted its stake in Golden Ocean Group by 3.6% in the 4th quarter. Empowered Funds LLC now owns 963,005 shares of the shipping company's stock valued at $8,629,000 after purchasing an additional 33,241 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in 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 purchasing an additional 637,103 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in Golden Ocean Group by 32.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 694,290 shares of the shipping company's stock worth $9,290,000 after buying an additional 168,898 shares during the last quarter. 22.00% of the stock is owned by institutional investors.

Golden Ocean Group Stock Performance

Shares of NASDAQ GOGL traded down $0.38 during mid-day trading on Monday, reaching $7.98. 3,373,511 shares of the company were exchanged, compared to its average volume of 1,965,921. The stock has a market capitalization of $1.60 billion, a P/E ratio of 6.60 and a beta of 1.14. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.65. The company's 50-day simple moving average is $8.84 and its 200-day simple moving average is $10.06. Golden Ocean Group Limited has a twelve month low of $7.49 and a twelve month high of $15.77.

Golden Ocean Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.60 annualized dividend and a yield of 7.52%. Golden Ocean Group's payout ratio is currently 53.57%.

Analyst Ratings Changes

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

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.