Victory Capital Management Inc. Increases Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Victory Capital Management Inc. lifted its holdings in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 2,893.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 414,121 shares of the shipping company's stock after purchasing an additional 400,289 shares during the quarter. Victory Capital Management Inc. owned 0.21% of Golden Ocean Group worth $3,711,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Point72 Hong Kong Ltd purchased a new position in Golden Ocean Group during the third quarter valued at approximately $28,000. Jones Financial Companies Lllp raised its stake in shares of Golden Ocean Group by 683.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company's stock valued at $25,000 after buying an additional 2,391 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Golden Ocean Group during the 4th quarter valued at approximately $46,000. FMR LLC boosted its position in Golden Ocean Group by 146.8% during the third quarter. FMR LLC now owns 12,210 shares of the shipping company's stock worth $163,000 after acquiring an additional 7,263 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its stake in Golden Ocean Group by 96.3% in the 3rd quarter. Quantinno Capital Management LP now owns 19,740 shares of the shipping company's stock worth $264,000 after purchasing an additional 9,684 shares in the last quarter. 22.00% of the stock is owned by hedge funds and other institutional investors.

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Golden Ocean Group Stock Up 1.4 %

Shares of Golden Ocean Group stock traded up $0.11 during trading hours on Wednesday, hitting $7.77. The company had a trading volume of 3,082,808 shares, compared to its average volume of 1,795,401. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. The company's 50-day moving average is $9.05 and its two-hundred day moving average is $10.28. The company has a market cap of $1.55 billion, a P/E ratio of 6.42 and a beta of 1.14. Golden Ocean Group Limited has a twelve month low of $7.49 and a twelve month high of $15.77.

Golden Ocean Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 7.73%. The ex-dividend date is Tuesday, March 11th. Golden Ocean Group's payout ratio is 53.57%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GOGL shares. Jefferies Financial Group reiterated a "hold" rating and set a $10.00 price target on shares of Golden Ocean Group in a report on Wednesday, February 26th. Pareto Securities reaffirmed a "hold" rating and issued a $12.50 price target on shares of Golden Ocean Group in a research report on Thursday, November 21st.

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.