Short Interest in Golden Ocean Group Limited (NASDAQ:GOGL) Decreases By 5.8%

Golden Ocean Group Limited (NASDAQ:GOGL - Get Free Report) was the target of a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 4,560,000 shares, a drop of 5.8% from the January 15th total of 4,840,000 shares. Currently, 3.8% of the company's stock are short sold. Based on an average daily trading volume, of 1,680,000 shares, the days-to-cover ratio is presently 2.7 days.

Institutional Investors Weigh In On Golden Ocean Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp grew its holdings in shares of Golden Ocean Group by 683.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company's stock worth $25,000 after purchasing an additional 2,391 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Golden Ocean Group in the 3rd quarter valued at about $28,000. Sterling Capital Management LLC grew its stake in Golden Ocean Group by 830.1% during the 4th quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company's stock worth $35,000 after buying an additional 3,478 shares during the last quarter. Quarry LP increased its position in Golden Ocean Group by 195.3% during the fourth quarter. Quarry LP now owns 4,981 shares of the shipping company's stock worth $45,000 after buying an additional 3,294 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in Golden Ocean Group in the fourth quarter valued at approximately $46,000. 22.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Jefferies Financial Group cut their target price on shares of Golden Ocean Group from $12.50 to $12.00 and set a "hold" rating on the stock in a research note on Wednesday, November 27th. Pareto Securities reissued 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 Stock Down 2.8 %

Shares of NASDAQ:GOGL traded down $0.27 on Friday, hitting $9.43. 1,479,094 shares of the company's stock were exchanged, compared to its average volume of 1,730,703. Golden Ocean Group has a 1-year low of $8.52 and a 1-year high of $15.77. The company has a market capitalization of $1.89 billion, a PE ratio of 7.79 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. The firm's 50-day moving average is $9.10 and its 200 day moving average is $10.71.

Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, November 27th. The shipping company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.04. Golden Ocean Group had a return on equity of 13.14% and a net margin of 23.89%. Sell-side analysts predict that Golden Ocean Group will post 1.14 EPS for the current year.

Golden Ocean Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 9th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 12.73%. The ex-dividend date of this dividend was Monday, December 9th. Golden Ocean Group's dividend payout ratio (DPR) is 99.17%.

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.