177,523 Shares in Golden Ocean Group Limited (NASDAQ:GOGL) Acquired by Prevail Innovative Wealth Advisors LLC

Prevail Innovative Wealth Advisors LLC bought a new stake in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 177,523 shares of the shipping company's stock, valued at approximately $1,591,000. Prevail Innovative Wealth Advisors LLC owned approximately 0.09% of Golden Ocean Group as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GOGL. Vanguard Group Inc. increased its position in Golden Ocean Group by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 5,798,672 shares of the shipping company's stock worth $50,978,000 after purchasing an additional 71,918 shares during the period. Two Sigma Advisers LP boosted its stake in shares of Golden Ocean Group by 6.9% in the third quarter. Two Sigma Advisers LP now owns 2,751,677 shares of the shipping company's stock valued at $36,817,000 after buying an additional 177,100 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Golden Ocean Group by 229.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,139,248 shares of the shipping company's stock worth $10,208,000 after acquiring an additional 793,470 shares during the period. Empowered Funds LLC raised its position in Golden Ocean Group by 3.6% in the fourth quarter. Empowered Funds LLC now owns 963,005 shares of the shipping company's stock worth $8,629,000 after acquiring an additional 33,241 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Golden Ocean Group by 196.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 961,367 shares of the shipping company's stock worth $8,614,000 after acquiring an additional 637,103 shares in the last quarter. 22.00% of the stock is currently owned by institutional investors and hedge funds.

Golden Ocean Group Price Performance

NASDAQ GOGL traded down $0.23 during mid-day trading on Thursday, hitting $8.16. The stock had a trading volume of 4,438,027 shares, compared to its average volume of 1,996,897. The company has a 50 day simple moving average of $8.82 and a 200 day simple moving average of $10.02. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 6.74 and a beta of 1.14. Golden Ocean Group Limited has a 52-week low of $7.49 and a 52-week high of $15.77. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.65.

Golden Ocean Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.60 annualized dividend and a dividend yield of 7.35%. Golden Ocean Group's dividend payout ratio is presently 53.57%.

Analyst Upgrades and Downgrades

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

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.