Golden Ocean Group Limited (NASDAQ:GOGL) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lowered its holdings in Golden Ocean Group Limited (NASDAQ:GOGL) by 7.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 641,809 shares of the shipping company’s stock after selling 52,481 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.32% of Golden Ocean Group worth $5,751,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GOGL. Jones Financial Companies Lllp increased its holdings in shares of Golden Ocean Group by 683.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 2,391 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of Golden Ocean Group by 830.1% in the 4th quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company’s stock valued at $35,000 after acquiring an additional 3,478 shares during the last quarter. Quarry LP increased its holdings in shares of Golden Ocean Group by 195.3% in the 4th quarter. Quarry LP now owns 4,981 shares of the shipping company’s stock valued at $45,000 after acquiring an additional 3,294 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Golden Ocean Group during the 4th quarter worth approximately $46,000. Finally, Tower Research Capital LLC TRC grew its stake in Golden Ocean Group by 47.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,294 shares of the shipping company’s stock worth $47,000 after buying an additional 1,694 shares during the last quarter. Hedge funds and other institutional investors own 22.00% of the company’s stock.

Golden Ocean Group Trading Up 0.6%

NASDAQ:GOGL opened at $7.95 on Wednesday. The stock’s 50 day moving average price is $7.62 and its 200 day moving average price is $9.01. The company has a market capitalization of $1.59 billion, a PE ratio of 6.57 and a beta of 1.06. 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 Limited has a 52-week low of $6.27 and a 52-week high of $15.77.

Golden Ocean Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a yield of 7.55%. Golden Ocean Group’s payout ratio is 53.57%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Jefferies Financial Group dropped their price target on Golden Ocean Group from $10.00 to $8.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. StockNews.com assumed coverage on Golden Ocean Group in a research note on Wednesday. They set a “hold” rating on the stock.

Golden Ocean Group Company 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.