Seven Eight Capital LP Takes $931,000 Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Seven Eight Capital LP bought a new stake in Golden Ocean Group Limited (NASDAQ:GOGL) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 67,499 shares of the shipping company’s stock, valued at approximately $931,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in Golden Ocean Group by 15.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,151,274 shares of the shipping company’s stock valued at $11,236,000 after acquiring an additional 155,425 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Golden Ocean Group by 108.5% in the fourth quarter. Hsbc Holdings PLC now owns 712,829 shares of the shipping company’s stock valued at $6,928,000 after purchasing an additional 370,918 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Golden Ocean Group in the 4th quarter valued at $171,000. Counterpoint Mutual Funds LLC bought a new position in Golden Ocean Group during the 1st quarter valued at $684,000. Finally, Harbour Capital Advisors LLC purchased a new position in Golden Ocean Group during the 1st quarter worth $691,000. 22.00% of the stock is owned by institutional investors.

Golden Ocean Group Price Performance

Shares of NASDAQ:GOGL opened at $12.18 on Friday. The company has a market capitalization of $2.43 billion, a P/E ratio of 13.10 and a beta of 1.16. The company’s 50-day moving average is $12.16 and its 200 day moving average is $13.12. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.00 and a current ratio of 1.17. Golden Ocean Group Limited has a fifty-two week low of $7.09 and a fifty-two week high of $15.77.

Golden Ocean Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Wednesday, September 11th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.85%. The ex-dividend date was Wednesday, September 11th. Golden Ocean Group’s dividend payout ratio is currently 129.03%.

Analysts Set New Price Targets

GOGL has been the subject of a number of recent analyst reports. Jefferies Financial Group reduced their price objective on shares of Golden Ocean Group from $15.50 to $14.50 and set a “hold” rating for the company in a research report on Wednesday, August 28th. StockNews.com raised Golden Ocean Group from a “sell” rating to a “hold” rating in a report on Friday, August 30th.

Golden Ocean Group Company 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.