Two Sigma Advisers LP Sells 376,782 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Two Sigma Advisers LP reduced its stake in Golden Ocean Group Limited (NASDAQ:GOGL) by 13.7% during the fourth quarter, HoldingsChannel reports. The firm owned 2,374,895 shares of the shipping company’s stock after selling 376,782 shares during the period. Two Sigma Advisers LP’s holdings in Golden Ocean Group were worth $21,279,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. New York State Common Retirement Fund increased its holdings in shares of Golden Ocean Group by 16.5% in the 4th quarter. New York State Common Retirement Fund now owns 222,238 shares of the shipping company’s stock worth $1,991,000 after buying an additional 31,500 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Golden Ocean Group by 3.6% during 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. Victory Capital Management Inc. grew its position in 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 worth $3,711,000 after acquiring an additional 400,289 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Golden Ocean Group in the fourth quarter valued at $46,000. Finally, Kingsview Wealth Management LLC bought a new position in Golden Ocean Group in the fourth quarter valued at $519,000. 22.00% of the stock is owned by hedge funds and other institutional investors.

Golden Ocean Group Trading Down 2.5%

GOGL stock opened at $7.79 on Wednesday. The company has a market capitalization of $1.56 billion, a PE ratio of 6.44 and a beta of 1.06. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22. Golden Ocean Group Limited has a one year low of $6.27 and a one year high of $15.77. The company’s 50 day moving average price is $7.61 and its two-hundred day moving average price is $8.91.

Golden Ocean Group Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 7.70%. The ex-dividend date of this dividend was Tuesday, March 11th. Golden Ocean Group’s payout ratio is presently 53.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts have 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 for the company in a research note on Wednesday, April 23rd. StockNews.com assumed coverage on Golden Ocean Group in a research report on Wednesday, May 14th. They set a “hold” rating on the stock.

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.