Quantbot Technologies LP Decreases Stake in Golden Ocean Group Limited (NASDAQ:GOGL)

Quantbot Technologies LP lessened its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 22.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,358 shares of the shipping company’s stock after selling 51,614 shares during the period. Quantbot Technologies LP owned 0.09% of Golden Ocean Group worth $1,589,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GOGL. Bank of New York Mellon Corp grew its position 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 valued at $10,208,000 after purchasing an additional 793,470 shares in the last quarter. Mirabella Financial Services LLP acquired a new stake in shares of Golden Ocean Group during the 3rd quarter worth approximately $9,360,000. Assenagon Asset Management S.A. lifted its holdings in Golden Ocean Group by 196.5% in the fourth 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 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 during the period. Finally, Two Sigma Advisers LP increased its stake in Golden Ocean Group by 6.9% during the third quarter. Two Sigma Advisers LP now owns 2,751,677 shares of the shipping company’s stock worth $36,817,000 after acquiring an additional 177,100 shares during the last quarter. Institutional investors and hedge funds own 22.00% of the company’s stock.

Golden Ocean Group Price Performance

Shares of GOGL opened at $7.89 on Tuesday. The firm has a 50-day simple moving average of $8.94 and a two-hundred day simple moving average of $10.17. The stock has a market cap of $1.58 billion, a PE ratio of 6.52 and a beta of 1.14. Golden Ocean Group Limited has a 1-year low of $7.49 and a 1-year high of $15.77. 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 Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.60 annualized dividend and a yield of 7.60%. Golden Ocean Group’s dividend payout ratio (DPR) is presently 53.57%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reaffirmed a “hold” rating and issued a $10.00 price target on shares of Golden Ocean Group in a research note 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.