Arrowstreet Capital Limited Partnership Sells 513,136 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Arrowstreet Capital Limited Partnership reduced its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 11.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,984,902 shares of the shipping company’s stock after selling 513,136 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.99% of Golden Ocean Group worth $35,408,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. New York State Common Retirement Fund lifted its stake in shares of Golden Ocean Group by 16.5% during the fourth quarter. New York State Common Retirement Fund now owns 222,238 shares of the shipping company’s stock valued at $1,991,000 after acquiring an additional 31,500 shares during the period. Empowered Funds LLC grew its holdings in 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 period. Victory Capital Management Inc. lifted its stake in shares of Golden Ocean Group by 2,893.9% in the 4th quarter. Victory Capital Management Inc. now owns 414,121 shares of the shipping company’s stock valued at $3,711,000 after purchasing an additional 400,289 shares during the period. JPMorgan Chase & Co. increased its holdings in Golden Ocean Group by 31.7% in the third quarter. JPMorgan Chase & Co. now owns 444,453 shares of the shipping company’s stock valued at $5,947,000 after purchasing an additional 106,966 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Golden Ocean Group during the fourth quarter worth about $46,000. Institutional investors and hedge funds own 22.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group restated 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 Trading Up 1.0 %

NASDAQ:GOGL opened at $8.39 on Thursday. The business’s 50-day simple moving average is $8.82 and its 200-day simple moving average is $10.02. Golden Ocean Group Limited has a fifty-two week low of $7.49 and a fifty-two week 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. The stock has a market capitalization of $1.68 billion, a PE ratio of 6.93 and a beta of 1.14.

Golden Ocean Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 11th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 7.15%. The ex-dividend date 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.