New York State Common Retirement Fund Has $1.99 Million Stake in Golden Ocean Group Limited (NASDAQ:GOGL)

New York State Common Retirement Fund raised its stake in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 16.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 222,238 shares of the shipping company's stock after acquiring an additional 31,500 shares during the period. New York State Common Retirement Fund owned about 0.11% of Golden Ocean Group worth $1,991,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOGL. Mirabella Financial Services LLP bought a new position in shares of Golden Ocean Group in the third quarter valued at approximately $9,360,000. Assenagon Asset Management S.A. increased its holdings in 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 purchasing an additional 637,103 shares in the last quarter. Two Sigma Advisers LP raised its position in Golden Ocean Group by 6.9% in the 3rd quarter. Two Sigma Advisers LP now owns 2,751,677 shares of the shipping company's stock valued at $36,817,000 after purchasing an additional 177,100 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of 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 purchasing an additional 168,898 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Golden Ocean Group during the 3rd quarter worth about $1,543,000. 22.00% of the stock is owned by institutional investors.

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Golden Ocean Group Trading Down 16.4 %

NASDAQ:GOGL traded down $1.65 on Wednesday, hitting $8.41. 21,716,490 shares of the stock were exchanged, compared to its average volume of 2,998,584. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 6.95 and a beta of 1.16. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22. Golden Ocean Group Limited has a 52 week low of $8.38 and a 52 week high of $15.77. The company's 50-day moving average price is $9.21 and its 200 day moving average price is $10.56.

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 issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.60 annualized dividend and a yield of 7.13%. Golden Ocean Group's dividend payout ratio is currently 53.57%.

Wall Street Analysts Forecast Growth

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

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.