Quantbot Technologies LP Cuts Holdings in Golden Ocean Group Limited (NASDAQ:GOGL)

Quantbot Technologies LP lowered its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 22.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 177,358 shares of the shipping company's stock after selling 51,614 shares during the period. Quantbot Technologies LP owned 0.09% of Golden Ocean Group worth $1,589,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Two Sigma Advisers LP increased its position in 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 worth $36,817,000 after buying an additional 177,100 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Golden Ocean Group by 229.5% during the 4th 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 increased its holdings in Golden Ocean Group by 3.6% in the 4th 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 during the last quarter. Assenagon Asset Management S.A. raised its stake in Golden Ocean Group by 196.5% in 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 acquiring an additional 637,103 shares during the period. Finally, Mirabella Financial Services LLP bought a new stake in Golden Ocean Group in the 3rd quarter valued at about $9,360,000. Institutional investors own 22.00% of the company's stock.

Analysts Set New Price Targets

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

Golden Ocean Group Stock Performance

Shares of NASDAQ GOGL traded up $0.22 during mid-day trading on Friday, hitting $8.36. The company had a trading volume of 6,948,268 shares, compared to its average volume of 1,960,287. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. Golden Ocean Group Limited has a 1 year low of $7.49 and a 1 year high of $15.77. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 6.91 and a beta of 1.14. The stock's 50-day moving average price is $8.87 and its 200-day moving average price is $10.12.

Golden Ocean Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 7.18%. The ex-dividend date was Tuesday, March 11th. Golden Ocean Group's dividend payout ratio (DPR) is presently 53.57%.

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.