LSV Asset Management Invests $1.09 Million in Golden Ocean Group Limited (NASDAQ:GOGL)

LSV Asset Management acquired a new position in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 121,300 shares of the shipping company's stock, valued at approximately $1,087,000. LSV Asset Management owned approximately 0.06% of Golden Ocean Group as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

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

Golden Ocean Group Stock Performance

Golden Ocean Group stock traded up $0.13 during midday trading on Friday, hitting $7.16. The company's stock had a trading volume of 1,796,390 shares, compared to its average volume of 2,173,064. The company has a 50-day moving average price of $8.27 and a two-hundred day moving average price of $9.56. Golden Ocean Group Limited has a 1-year low of $6.27 and a 1-year high of $15.77. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 5.92 and a beta of 1.10. 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 Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 8.38%. The ex-dividend date of this dividend was Tuesday, March 11th. 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.