Intech Investment Management LLC Has $682,000 Holdings in Golden Ocean Group Limited (NASDAQ:GOGL)

Intech Investment Management LLC boosted its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 113.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,150 shares of the shipping company's stock after purchasing an additional 40,505 shares during the period. Intech Investment Management LLC's holdings in Golden Ocean Group were worth $682,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Swiss National Bank boosted its stake in Golden Ocean Group by 0.6% in the 4th quarter. Swiss National Bank now owns 257,524 shares of the shipping company's stock valued at $2,259,000 after buying an additional 1,658 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Golden Ocean Group in the 3rd quarter valued at $28,000. Jones Financial Companies Lllp boosted its stake in shares of Golden Ocean Group by 683.1% in the 4th 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 in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Golden Ocean Group by 9.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 36,786 shares of the shipping company's stock worth $330,000 after purchasing an additional 3,106 shares during the last quarter. Finally, Onyx Bridge Wealth Group LLC increased its position in shares of Golden Ocean Group by 10.4% during the 4th quarter. Onyx Bridge Wealth Group LLC now owns 35,091 shares of the shipping company's stock worth $314,000 after purchasing an additional 3,315 shares in the last quarter. 22.00% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

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

Golden Ocean Group Price Performance

Shares of GOGL stock traded up $0.01 during trading hours on Wednesday, reaching $8.00. 660,861 shares of the company were exchanged, compared to its average volume of 3,253,506. Golden Ocean Group Limited has a fifty-two week low of $7.49 and a fifty-two week high of $15.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. The stock's fifty day moving average is $8.91 and its two-hundred day moving average is $10.14. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 6.61 and a beta of 1.14.

Golden Ocean Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 7.50%. The ex-dividend date was Tuesday, March 11th. Golden Ocean Group's dividend payout ratio is 53.57%.

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.