Bridgefront Capital LLC Sells 14,758 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Bridgefront Capital LLC lessened its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 54.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,537 shares of the shipping company’s stock after selling 14,758 shares during the period. Bridgefront Capital LLC’s holdings in Golden Ocean Group were worth $112,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Praetorian PR LLC purchased a new stake in Golden Ocean Group in the fourth quarter worth about $2,688,000. Northern Trust Corp lifted its position in shares of Golden Ocean Group by 9.8% in the 4th quarter. Northern Trust Corp now owns 947,740 shares of the shipping company’s stock worth $8,492,000 after purchasing an additional 84,645 shares during the period. Quarry LP boosted its stake in shares of Golden Ocean Group by 195.3% during the fourth quarter. Quarry LP now owns 4,981 shares of the shipping company’s stock valued at $45,000 after purchasing an additional 3,294 shares in the last quarter. Aquatic Capital Management LLC increased its holdings in Golden Ocean Group by 31.6% during the fourth quarter. Aquatic Capital Management LLC now owns 30,137 shares of the shipping company’s stock valued at $270,000 after buying an additional 7,237 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in Golden Ocean Group in the fourth quarter worth approximately $484,000. Hedge funds and other institutional investors own 22.00% of the company’s stock.

Analyst Upgrades and Downgrades

GOGL has been the topic of a number of analyst reports. Jefferies Financial Group cut their price target on Golden Ocean Group from $10.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. StockNews.com began coverage on shares of Golden Ocean Group in a report on Tuesday. They issued a “hold” rating for the company.

Golden Ocean Group Stock Performance

Shares of GOGL stock opened at $7.48 on Friday. Golden Ocean Group Limited has a 12-month low of $6.27 and a 12-month high of $15.77. The business’s fifty day simple moving average is $7.65 and its 200-day simple moving average is $9.06. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. The company has a market cap of $1.50 billion, a PE ratio of 6.18 and a beta of 1.06.

Golden Ocean Group Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 8.02%. The ex-dividend date of this dividend was Tuesday, March 11th. Golden Ocean Group’s dividend payout ratio (DPR) is presently 53.57%.

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.