Arrowstreet Capital Limited Partnership Has $35.41 Million Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Arrowstreet Capital Limited Partnership lessened its position in Golden Ocean Group Limited (NASDAQ:GOGL) by 11.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,984,902 shares of the shipping company’s stock after selling 513,136 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Golden Ocean Group were worth $35,408,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in shares of Golden Ocean Group by 229.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,139,248 shares of the shipping company’s stock worth $10,208,000 after acquiring an additional 793,470 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Golden Ocean Group by 196.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 961,367 shares of the shipping company’s stock worth $8,614,000 after purchasing an additional 637,103 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Golden Ocean Group by 2,893.9% during the fourth quarter. Victory Capital Management Inc. now owns 414,121 shares of the shipping company’s stock worth $3,711,000 after purchasing an additional 400,289 shares during the last quarter. Two Sigma Advisers LP grew its position in Golden Ocean Group by 6.9% in the third quarter. Two Sigma Advisers LP now owns 2,751,677 shares of the shipping company’s stock valued at $36,817,000 after purchasing an additional 177,100 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Golden Ocean Group by 32.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 694,290 shares of the shipping company’s stock valued at $9,290,000 after buying an additional 168,898 shares during the last quarter. Institutional investors own 22.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group restated a “hold” rating and issued 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 company has a market cap of $1.68 billion, a PE ratio of 6.93 and a beta of 1.14. Golden Ocean Group Limited has a 12 month low of $7.49 and a 12 month high of $15.77. The stock has a 50 day moving average of $8.82 and a 200-day moving average of $10.02. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65.

Golden Ocean Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 11th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.15%. 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.