Jacobs Levy Equity Management Inc. Buys 168,898 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Jacobs Levy Equity Management Inc. increased its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 32.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 694,290 shares of the shipping company's stock after purchasing an additional 168,898 shares during the period. Jacobs Levy Equity Management Inc. owned 0.35% of Golden Ocean Group worth $9,290,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Point72 Hong Kong Ltd purchased a new stake in shares of Golden Ocean Group in the 3rd quarter valued at about $28,000. Nisa Investment Advisors LLC raised its holdings in shares of Golden Ocean Group by 1,720.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,804 shares of the shipping company's stock valued at $52,000 after acquiring an additional 3,595 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Golden Ocean Group by 2,319.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 9,170 shares of the shipping company's stock valued at $127,000 after acquiring an additional 8,791 shares in the last quarter. FMR LLC raised its holdings in shares of Golden Ocean Group by 146.8% in the 3rd quarter. FMR LLC now owns 12,210 shares of the shipping company's stock valued at $163,000 after acquiring an additional 7,263 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Golden Ocean Group by 16.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,420 shares of the shipping company's stock valued at $225,000 after acquiring an additional 2,267 shares in the last quarter. Hedge funds and other institutional investors own 22.00% of the company's stock.

Golden Ocean Group Price Performance

Shares of Golden Ocean Group stock traded down $0.35 during trading on Friday, hitting $9.56. 2,488,102 shares of the stock traded hands, compared to its average volume of 1,600,083. The company has a quick ratio of 1.00, a current ratio of 1.22 and a debt-to-equity ratio of 0.65. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 7.90 and a beta of 1.16. The firm's fifty day moving average is $11.38 and its 200-day moving average is $12.34. Golden Ocean Group Limited has a 52 week low of $8.42 and a 52 week high of $15.77.

Golden Ocean Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 9th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.20 annualized dividend and a yield of 12.55%. Golden Ocean Group's payout ratio is 99.17%.

Analyst Upgrades and Downgrades

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

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.