Intech Investment Management LLC Acquires 40,505 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Intech Investment Management LLC boosted its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 113.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,150 shares of the shipping company’s stock after buying an additional 40,505 shares during the quarter. Intech Investment Management LLC’s holdings in Golden Ocean Group were worth $682,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GOGL. Cibc World Markets Corp bought a new stake in shares of Golden Ocean Group during the 4th quarter worth about $102,000. Commonwealth Equity Services LLC lifted its holdings in Golden Ocean Group by 9.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 36,786 shares of the shipping company’s stock worth $330,000 after purchasing an additional 3,106 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in Golden Ocean Group by 35.7% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 176,380 shares of the shipping company’s stock worth $1,549,000 after purchasing an additional 46,415 shares during the period. Swiss National Bank grew its holdings in Golden Ocean Group by 0.6% during the fourth quarter. Swiss National Bank now owns 257,524 shares of the shipping company’s stock valued at $2,259,000 after purchasing an additional 1,658 shares during the last quarter. Finally, MQS Management LLC bought a new position in shares of Golden Ocean Group in the fourth quarter valued at approximately $120,000. 22.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Jefferies Financial Group reaffirmed a “hold” rating and set a $10.00 price objective on shares of Golden Ocean Group in a report on Wednesday, February 26th.

Golden Ocean Group Price Performance

NASDAQ GOGL opened at $7.68 on Monday. The stock has a 50-day simple moving average of $8.97 and a 200 day simple moving average of $10.19. Golden Ocean Group Limited has a twelve month low of $7.49 and a twelve month high of $15.77. The stock has a market capitalization of $1.54 billion, a PE ratio of 6.35 and a beta of 1.14. 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 Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 11th were issued 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 dividend yield of 7.81%. Golden Ocean Group’s dividend payout ratio (DPR) is presently 53.57%.

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.