Trexquant Investment LP Purchases 116,548 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Trexquant Investment LP increased its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 150.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 193,993 shares of the shipping company's stock after acquiring an additional 116,548 shares during the quarter. Trexquant Investment LP owned about 0.10% of Golden Ocean Group worth $1,738,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in shares of Golden Ocean Group by 229.5% in 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 purchasing an additional 793,470 shares during the last quarter. Assenagon Asset Management S.A. boosted its position 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 valued at $8,614,000 after acquiring an additional 637,103 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Golden Ocean Group by 2,893.9% in the fourth quarter. Victory Capital Management Inc. now owns 414,121 shares of the shipping company's stock valued at $3,711,000 after purchasing an additional 400,289 shares in the last quarter. Prevail Innovative Wealth Advisors LLC bought a new stake in Golden Ocean Group in the fourth quarter worth $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 valued at $5,560,000 after purchasing an additional 133,200 shares during the last quarter. 22.00% of the stock is owned by hedge funds and other institutional investors.

Golden Ocean Group Trading Down 1.4 %

Shares of GOGL traded down $0.11 during midday trading on Monday, hitting $7.29. The stock had a trading volume of 473,695 shares, compared to its average volume of 2,153,633. The stock's 50 day moving average is $8.45 and its 200 day moving average is $9.68. The firm has a market cap of $1.46 billion, a PE ratio of 6.02 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 Limited has a 1 year low of $6.27 and a 1 year high of $15.77.

Golden Ocean Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 8.24%. The ex-dividend date of this dividend was Tuesday, March 11th. Golden Ocean Group's payout ratio is currently 53.57%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group restated a "hold" rating and issued a $10.00 target price on shares of Golden Ocean Group in a report 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.