Hosking Partners LLP Has $10.24 Million Stock Holdings in Golden Ocean Group Limited (NASDAQ:GOGL)

Hosking Partners LLP cut its stake in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 11.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,143,049 shares of the shipping company's stock after selling 147,825 shares during the period. Hosking Partners LLP owned approximately 0.57% of Golden Ocean Group worth $10,242,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 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 worth $10,208,000 after purchasing an additional 793,470 shares in the last quarter. Mirabella Financial Services LLP bought a new position in shares of Golden Ocean Group in the third quarter valued at $9,360,000. Assenagon Asset Management S.A. lifted its position in shares of Golden Ocean Group by 196.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 961,367 shares of the shipping company's stock valued at $8,614,000 after acquiring an additional 637,103 shares during the last quarter. Two Sigma Advisers LP boosted its stake 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 in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Golden Ocean Group by 32.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 694,290 shares of the shipping company's stock worth $9,290,000 after acquiring an additional 168,898 shares during the last quarter. Institutional investors own 22.00% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GOGL shares. Jefferies Financial Group reaffirmed a "hold" rating and set a $10.00 target price on shares of Golden Ocean Group in a report on Wednesday, February 26th. Pareto Securities restated a "hold" rating and set a $12.50 price objective on shares of Golden Ocean Group in a report on Thursday, November 21st.

Golden Ocean Group Trading Up 3.2 %

Golden Ocean Group stock traded up $0.31 during midday trading on Tuesday, reaching $10.06. The stock had a trading volume of 7,939,693 shares, compared to its average volume of 2,465,695. The firm's fifty day simple moving average is $9.20 and its two-hundred day simple moving average is $10.59. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. Golden Ocean Group Limited has a twelve month low of $8.52 and a twelve month high of $15.77. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 8.31 and a beta of 1.16.

Golden Ocean Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Tuesday, March 11th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 5.96%. The ex-dividend date of this dividend is Tuesday, March 11th. Golden Ocean Group's dividend payout ratio is currently 53.57%.

Golden Ocean Group 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.